Kitco News, Released on 5/6/21
0:00 – First Majestic Silver: company news & performance
5:18 – Silver price performance
8:45 – Triple-digit silver price
12:33 – Silver Institute supply/demand data
19:14 – Silver deficit and price
22:29 – How much silver to buy to move price?
24:09 – Shortage of silver physical bars and coins
Silver is a strategic metal, and with mounting industrial demand it’s only a matter of time before previous all-time highs are met, and then a new push to triple digits is on the way, said Keith Neumeyer, CEO of First Majestic Silver.
“Silver is the only commodity that is not reaching its [historic] highs, and it has reached [those highs] on two separate occasions, back in 1980 and 2011. I think we’re going to see that high breached in the cycle, and when it does, it’s going to wake up the market. Once it breaks through the $50 level, I think that it’s going to get up to the $100 level pretty quickly,” Neumeyer told David Lin, anchor for Kitco News.
On the data released by the Silver Institute that reported that 2020 saw the biggest surplus in the silver market on record, Neumeyer challenged the collection methodology.
“I think these numbers are made up,” he said. “I wouldn’t trust them at all.”
Keith Neumeyer is the president and CEO of First Majestic Silver, one of the largest primary silver mining companies in the world. He’s also the founder and chairman of First Mining Finance. Both companies are traded on the Canadian and U.S. stock exchanges.