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Today’s metals news includes market analysis from a billionaire and the world’s largest hedge fund manager. Two people wise investors pay attention to when they speak.
The billionaire is bullish on silver, and forecasts big price increases for the grey metal in 2021.
The hedge fund manager, who was at one time a fierce critic of bitcoin, now recommends the most famous cryptocurrency as an effective choice to diversify your portfolio.
That and much more in today’s precious metals news, brought to you by Gold & Silver Central.
Let’s dig in…

Price
Why Gold Will Surpass $2,000 in 2021
In this article, there is one bank who says gold “still has plenty of fuel to move higher in 2021.” ING is the bank, and a senior commodities strategist at ING is getting their message out. Here name is Wenyu Yao, and she says that although news of a vaccine has prompted some a short-term rotation out of gold heading into year-end, the precious metals fundamental outlook remains strong next year. In its latest forecasts, the bank sees gold prices average the year around $1,965 an ounce. It sees gold prices pushing above $2,000 by the third quarter of next year.
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Price
Billionaire Says Silver Price Can ‘Absolutely Hit Triple Digits’ in Exclusive Kitco Interview
Nearly 20 years ago Thomas Kaplan made his first fortune in silver, buying options and turning that investment into one of the biggest zinc-silver mines in the world. In an exclusive interview with Kitco News, the CEO of The Electrum Group says that he is now back in silver after going public with a new silver mine in Mexico. Last month Kaplan’s commodity investment fund went public with Gatos Silver (NYSE: GATO, TSX: GATO) with its producing Cerro Los Gatos Mine in Northern Mexico.
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Stock Market
As Gold Treads Water, Investors Wonder What’s Next
Gold went up like a rocket but stopped. So, what’s next for gold? While it is very attractive to get sucked into chasing the next SPAC (Special Purpose Acquisition Company) to fly to the moon on the back of some battery technology or the EV (Enterprise Value) narrative, speculation is often simply gambling. Most people, especially gamblers, do not realise there is a difference between gambling and betting. Gamblers lose, stakers win. The gambler is on one side of the table and the house is on the other. The house owns the game and the player will be lucky to own anything at all in the long run. If you are a gambler that wins you are one of two groups of people, a delusional or someone not welcome to the game at all.
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Stock Market
The Sun is Rising on Commodities
The commodity markets are set for a positive year amid an improving economic backdrop. The recovery from the pandemic will accelerate once a vaccine is widely available, further supported by ongoing fiscal and monetary stimulus from governments around the world. A strong global growth pulse will likely see the US dollar weaken, which is normally a pre-requisite for a rally in commodity markets.

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Price
Gold Prices in 2021 Will Average $2,300 an ounce
2020 has been one big roller-coaster ride for the gold market, and while volatility is expected, one bank sees bigger upswings next year. In its 2021 outlook, analysts at CIBC said that they see gold prices averaging the year around $2,300 an ounce as the world continues to deal with the devastating economic fallout of the COVID-19 pandemic. "Covid-19 only served to accelerate our 'lower for longer' rates outlook, which was the foundation of our bullish gold call at the beginning of 2020. The global pandemic turned the world upside down economically, with governments quickly injecting stimulus to stave off corporate and personal bankruptcies," said Anita Soni, author of CIBC's gold outlook.
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Commentary
World’s Top Hedge Fund Manager Calls Bitcoin a Good Tool for Portfolio Diversification
American billionaire Hedge Fund Manager and Founder of Bridgewater Associates, Ray Dalio said that bitcoin and other cryptocurrencies have established themselves as alternative assets in the last decade. In a Reddit post yesterday, Dalio changed his tone on cryptocurrencies and presented a positive stance on digital assets. He compared bitcoin with gold and said that both have similarities as a store of value. The recent comments came as a surprise after Dalio bashed bitcoin last month for lack of adoption, high volatility and uncertain regulatory status.
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