AuAg Funds CEO Eric Strand talked with Proactive's Stephen Gunnion about the recent upward momentum in gold and silver prices and the potential for continued growth. Strand highlighted that AuAg Funds has raised its price target for gold from $2,475 to $2,750 as the metal approaches all-time highs. Discussing key drivers, he pointed out the impact of interest rate cuts, upcoming US elections, and China’s stimulus efforts.
Strand emphasised that commercial short sellers have been struggling to manage gold and silver prices, creating the potential for a short squeeze that could further boost these markets. He also touched on the improving gold-silver ratio, predicting that silver could outperform gold with a target of $39 per ounce.
Strand expressed optimism about AuAg’s Silver Bullet Fund, which has exceeded €100 million and continues to reach new highs. He expects margin expansions in the mining sector as energy prices stabilise, leading to strong financial performance for miners. Despite potential short-term volatility from the US elections, he believes that gold and silver remain poised for further gains.