Today acclaimed money manager Stephen Leeb told King World News there is an investment and industrial squeeze taking place in the silver market. Leeb stated, “The coming move in gold and silver will mark a major turning point in what will probably be the greatest bull market people will ever see in their lifetimes.” Here is what Leeb had to say: “I think the key to this market is understanding when commodities are going to breakout and how high they will go. Investors need to understand that once commodities breakout, the higher prices will be a constraint on growth going forward.”
Stephen Leeb continues:
“Higher commodities also cement gold as the go to currency. In fact, gold will be the only meaningful currency once commodities become truly scarce. Countries are going to be less likely to want to take paper money going forward because there is a race to the bottom in all currencies.
Last year the average price for Brent crude set an all-time high….\
“And we have seen oil continue to rise recently. But circling back to gold, we have really seen a classic trading range that has been going on for a long period of time. When you get one of these trading ranges, what you are seeing is gold moving from weak hands to strong hands.