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Eric Sprott Forecasts Status Quo Now, But Big Rally in 2018 (Weekly Wrap-Up, December 8, 2017)

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December 8, 2017

"More of the same" - that seems to be the refrain for precious metals this year, according to Eric Sprott. It's been tough, and gold and silver bugs may be feeling a bit low this holiday season. But, says Eric, a renewed rally in 2018 may be possible.

"We've never seemed to be able to get that large short position down," says Eric. "It just shows they [Central Banks] have control of the market. Whatever their purpose is, they get there. Once they can cover this, we probably will find a creative low, here. It's been tough."

But, Eric says, there may be hope. "We may have lost all our game, but we have things that will happen here shortly that I think will change things rather quickly."

Bitcoin's massive capital rush just may be positive for a rush into precious metals - and Eric definitely believes physical commodities will be affected by Bitcoin and other cryptocurrencies. "When people cash out their Bitcoins, where are they going to put their money? Some people will be selling here and look for a place to put it - it won't take much for things to move around in the precious metals markets [as a result]."

As always when it comes to speculating, anything can blow up - the key is to keep your ear to the ground and remain patient.

To hear more on Eric's thoughts on metals in the new year, the moves in stocks, geopolitics, and more, tune into this week's Wrap-Up, below:

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About Sprott Money

Specializing in the sale of bullion, bullion storage and precious metals registered investments, there’s a reason Sprott Money is called “The Most Trusted Name in Precious Metals”.

Since 2008, our customers have trusted us to provide guidance, education, and superior customer service as we help build their holdings in precious metals—no matter the size of the portfolio. Chairman, Eric Sprott, and President, Larisa Sprott, are proud to head up one of the most well-known and reputable precious metal firms in North America. Learn more about Sprott Money.

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About the Author

Our Ask The Expert interviewer Craig Hemke began his career in financial services in 1990 but retired in 2008 to focus on family and entrepreneurial opportunities.

Since 2010, he has been the editor and publisher of the TF Metals Report found at TFMetalsReport.com, an online community for precious metal investors.

*The author is not affiliated with, endorsed or sponsored by Sprott Money Ltd. The views and opinions expressed in this material are those of the author or guest speaker, are subject to change and may not necessarily reflect the opinions of Sprott Money Ltd. Sprott Money does not guarantee the accuracy, completeness, timeliness and reliability of the information or any results from its use.

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