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Divergences in Ratios Show Silver is Undervalued
by Jon Forrest Little Silver Seek
Last week, Citigroup analysts published a report calling for silver to reach $30 per ounce within 9 months.
Could Citigroup be exaggerating or on target? Today’s silver spot price is about $23.50 per ounce; so a move to $30.00 would be a 28% jump.
Let’s look at a few data sets that augur for higher silver prices…
Throughout human history, about 8.5 ounces of silver have been extracted from the earth for every one ounce of gold.
According to the World Gold Council, an estimated 208,874 tonnes of gold have been mined.