News Bites Should silver really be $150 and gold $3k? Are current prices an ‘insult’? Lobo Tiggre gets real

Tiggre told David Lin, anchor for Kitco News, that he never wants to be a “mindless cheerleader” in the precious metals space, but with that said, fundamentals are in place to push gold to $3,000 and silver to $150 an ounce in the future, although this climb won’t happen overnight.

“This negative sentiment, this bearishness that’ pervaded our space, is a fantastic opportunity and I’ve been putting my money in that now,” he said.

Corrections are natural parts of the price cycle, Tiggre added.

“I think all the reasons for gold and silver to go higher are fully enforced. I think that a lot of it was priced in advance. I think the crisis in 2020 pulls forward a lot of that [price action] so it is natural for there to be a period of correction and consolidation now. I don’t see anything wrong with these markets at all, and if people are frustrated, my advice for them is to go to the Kitco website, go to the gold price chart…look at the long-term numbers, and understand that the problems are short-term,” he said.

Tiggre noted that the price of metals is whatever the markets determine they should be, and if the market is currently trading at $1,778 an ounce for gold and $26 for silver, then investors need to accept the reality that the market is currently in a lull and not get “insulted”.