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Tuesday With Eric

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Just a heads up to watch this space in the coming days. On Tuesday, I was able to catch up with Eric Sprott and get his opinion of the year that was and the year that is to come. You're definitely going to want to listen or watch the discussion if you have some free time over the holidays.

So what did Eric and I discuss? A number of things and probably too many to include everything in this post. However, there are a few items that we can preview so as to pique your interest.

First of all and most importantly, is The Fed soon to be finished with their rate hike scheme? There's almost unanimity on Wall Street that rates will rise next year and that it will be 2024 at the earliest before they begin to cut rates. As I wrote last week, there's no doubt in my mind that 2023 will unfold much like 2019 and 2010 in that The Fed will be discussing cuts by mid-year and making cuts soon after. Does Eric agree with that analysis? You'll have to listen to find out but, if you were a regular listener to our weekly podcasts a year back, you can likely anticipate his sentiment on this crucial macro factor.

Next, does Eric think that the top is in for the US Dollar Index after the 25% rally earlier this year? If the index has topped and if the trend is back downward in 2023, then the COMEX metals will pick up a pretty string tailwind for most of the year.

How about the mining shares? Unlike the metals, which have clawed their way back to unchanged or better on the year, the mining shares have been dreadful. The GDX fell nearly 50% from April-October and it remains down about 10% YTD. Can the shares recover in 2023?

Perhaps more importantly, I asked Eric to address the critical factors in deciding whether or not to continue holding an exploration company and what might even drive a decision to double-down and add to your position in any specific name. If you're invested in any of these highly speculative, you're going to want to hear his answer.

Finally, Eric saved the best for last. It might be an understatement to say he's pretty bullish silver's prospects for 2023. And why is he so optimistic and excited. Here are just a few items he mentioned:

• Indian silver demand

• The projected 2023 supply deficit of over 100,000,000 ounces

• Rapidly shrinking vault stocks in New York and London

• Technology companies chasing supply

And the chart looks pretty compelling, too. Price has broken back above $22 and is set to possibly finish in the green on the year. As you can see below, it has a possibility of reaching $26-27 by late January and, once it breaks out above $28, big buyers are likely to start rushing in.

So keep an eye on the Sprott Money website over the next few days. The year ahead offers great potential for precious metals investors and these latest words of wisdom from one of the greatest natural resource investors of all time might help you to prepare.

The more you know, the more wisely you invest.

Feeling inspired to invest in silver? Browse our selection of silver bars, coins, or our exclusive Sprott Silver.

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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