Philip Patrick

restrictions on silver they're the number two miners of silver in the world so we're seeing tight supply on the back of an increase in demand so all in all it's the perfect storm for precious metals and i think what's driving them isn't fear or panic or mania it is very simple math at this point those people that um

Look, I would say this, and I wouldn't say it in any way dismissively because I understand the question entirely.

But I think in many ways, it's the wrong question to ask.

Look, this isn't about catching a trade.

Central banks, they didn't wake up one day and say, listen, gold's on a rally.

Let's buy it.

Gold is up because they're buying it.

And for people like you and I, I think it's a case of swapping risks for certainty.

And the real risk in my mind isn't the prices pull back 5% or 10%, although I don't think that's going to happen in this climate.

I think the real risk is that the purchasing power of our savings keep eroding.

And look at what's happening now.

Central banks' forecasters are scrambling aggressively to adjust their targets.

And they've been doing that for the last couple of years, just constantly increasing.

In my mind, the biggest risk right now is not owning some precious metals as part of our retirement.

One thing's clear, the global financial system is changing.

We're moving from sort of a...

a post-World War II order of trust and compatibility, a world policed by the United States into a more fractured world where trust is breaking down.

And precious metals and a move away from government debt will be the reality of those climate or the new world, I believe.

So forecasts now are increasing significantly.

I think we will see $10,000 an ounce gold.