Silver is set for a dramatic move higher, one that will even exceed the gains expected for gold, according to an asset manager for Dolefin, a Swiss investment adviser.
Urs Gmuer, who told CNBC that gold prices may reach $6,200 per ounce in a bull run which will end all major bull markets, said silver is set for an even greater upward run than gold, with the market due to correct a distortion in its pricing of silver in relation to gold.
Gold and silver currently are in a pricing ratio of 45:1. However, falling silver production over the last 60 years -- as a result of inventory depletion and mine closures -- means silver suppliesnow outnumber gold by a ratio of less than 10:1, indicating a market correction is due, Gmuer told CNBC.
Once such a correction occurs, silver prices would settle at 6.7 percent to 10 percent of gold prices, which if gold were to actually reach $6,200 per ounce would mean silver at a peak of $620 per ounce.