Feb 26, 2019 Guest(s): Keith Neumeyer CEO, First Majestic
A major bid, most likely from central banks, is coming onto the market for gold and is affecting silver in a positive way, said Keith Neumeyer, CEO of First Majestic Silver.
"I want to see silver really break through $17.50 to $18.00 [an ounce]. I think that's kind of the key number. We did test that level in early 2018 and it failed and it got all the way down, as we know, to sub-$14.00," Neumeyer told Kitco News on the sidelines of the BMO Global Metals and Mining Conference. "We need to see a real breakout."
Neumeyer added that should silver break past $18.00 an ounce, we will see the beginning of a five-year bull cycle.