Coeur considers Sprott’s advice of holding silver over cash

Coeur, the biggest primary Silver producer in the US, is considering Eric Sprott’s advice of keeping some of its reserves in silver rather than cash.

“It would provide additional leverage to investors. If we are bullish on silver and Gold as companies, one of the underlying themes there is the weakening US dollar, in our case. It’s an idea that’s consistent with why we feel good about silver and gold prices”, Coeur CEO Mitchell Krebs was quoted by Mining Weekly Online

Eric Sprott, CEO of Sprott Asset Management, had earlier written an open letter to Silver producers urging them to hold their reserves in silver instead of cash. “why do you have it in banks? Put it into silver, it’s a way better asset than having a bank deposit that pays zero interest rate and you take all of the risk of the bank on” , he explained in a King World New interview.

Coeur expects silver prices to rise as the economic uncertainty continues to persist and expects to produce 19.5 million ounces of silver in 2011. – CommodityOnline

Tags: price of silver, Silver, silver analysis, silver news, Silver price, silver prices, silver spot, spot silver

Posted by VBN on Dec 4 2011. Filed under Gold. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry