by Mac Slavo
If there’s one thing we know about precious metals, it’s that everyone has an opinion about how gold and silver will behave as we delve deeper into global economic crisis. So, who better to give us a bit of perspective than the Chief Executive Officer of one of the world’s largest primary silver producers?
Keither Neuemyer, who has been an outspoken critic of rampant price manipulation on commodity exchanges is the CEO of First Majestic Silver and the Chairman of precious metals mineral bank First Mining Finance. His latest revelation suggests that despite billions of dollars being traded daily on paper exchanges, physical silver supplies around the world have tightened to such an extent that manufacturers have been left with no choice but to come directly to mining companies to acquire the precious metal for their high-tech products. With this in mind, and the fact that silver demand today is greater than when it was trading at nearly $50 in April of 2011, one can’t help but think that based strictly on the fundamentals we should see a much higher price in coming months and years.
We got approached by an electronics manufacturing company that manufacturers cell phones and computers about four weeks ago… There were three of them in the meeting and they wanted to bid on our silver… It’s the first time in the fourteen years that I’ve been with First Majestic that we’ve ever been contacted by an electronics manufacturer… That tells me there is something changing in the market.
Full interview via Future Money Trends: