Silver Can’t Be Suppressed Anymore, Just Wait For Its ‘Breathtaking’ Run-GATA’s Bill Murphy

With all the market uncertainty, safe-haven assets like gold and silver are about to experience a massive surge, this according to one veteran market watcher.

And to Bill Murphy, the director of the Gold Anti-Trust Action Committee (GATA), silver stands to win the most.

“As gold prices explode, everyone’s gonna wanna buy cheap silver,” he told AGX Media last week.

“It’s gonna be a sight to behold and I don’t think it’s too far away.”

Silver prices have yet to experience this so-called surge, as prices continue to sit around $14 an ounce. However, in the aftermath of the Great Recession starting in 2008, silver prices reached all-time highs, trading just shy of $50 an ounce.

With no end in sight to this Coronavirus crisis, Murphy expects the situation to get much worse before it gets better.

“I mean 2008 was nothing compared to this because everything is stopping…and we don’t know when it’s going to end.”

“A week or two ago, I said recession. That is, unfortunately, in the can. I’m thinking it’s a depression. Nothing is working, I mean how can it get any worse?” he added.

Murphy is best known for being about market manipulation in the gold and silver markets. However, he thinks the alleged gold and silver price suppression cannot last much longer, especially as central banks resort to more money printing to overcome the economic downturn.

“All I can say is that, at least, what’s coming to gold and silver is going to bring smiles to those who are long and who own it…It’s going to be a very exciting time,” he said.

“I think we’re at the bottom or pretty close to it. Gold and silver are going to make historic runs to the upside, it’s going to be breathtaking.”