Kitco News is launching its Outlook 2017 series next week, but we couldn’t help but give you a SNEAK PEEK of Bill Murphy’s forecasts for gold and silver. Known as the director of the Gold Anti-Trust Committee (GATA), Murphy says the precious metals are set up to make ‘big advances’ in 2017. ’Open interest in gold has come down from 668k to less than 400k, so you’ve really cleaned out the market and it’s set to make big advances next year,’ he told Kitco News. ‘The same has happened in silver, they’ve wiped the specs out, 224k open interest down to 160k, so it’s all set up to make a move.’ Murphy added that a $50 print on silver may not be too far fetched. ‘I think you’re going to see silver trade like copper next year except much more volatile on the upside when it takes out $21.’ Stay tuned for our Outlook coverage, launching on December 16.
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6 Comments
What he thinks and $3 will get you a cup of coffee.
I'm in love with her.
get a life Bill, cartel cartel cartel 15 years and counting
KITCO NEWS IS ALL ABOUT TALKING RUBBISH !
Silver will be the star player in the coming months. 🙂 Happy Holidays Daniela 🙂
Gold Anti-Trust Committee (GATA) has been around for years, but little has been done to stop manipulation of gold or silver.
Yes, a few banks have been fined, but nothing will stop the banks and others from continuing to play their games when they make multiple times more in profits and get only small fines. When the government sends these crooks to jail, then you may see a drop in the scam of manipulation of the markets. So GATA, keep up the good work, but push for stronger penalties.