Michael Steinmann, CEO of Pan American Silver, attributes record-high gold prices to global de-dollarization and central bank buying. “The fear of all these countries de-dollarizing and all the central banks that are buying gold… that’s really the reason why we see that all-time high gold price happen,” he tells Daniela Cambone at the PDAC conference in Toronto in early March.
Unlike gold, silver’s value is driven by industrial demand, but quality assets are scarce since silver is often tied to base metals and gold. Steinmann also warned of a looming supply deficit, noting that dedicated holders are unlikely to sell even at significantly higher prices.
Watch the full interview to hear Steinmann’s insights on the future of silver and the shifting dynamics of precious metals
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