Today Michael Oliver, the man who worked directly with the Chairman of the Comex during the wild 1970s bull market when the price of silver hit an all-time record of $50, and who is well known for his deadly accurate forecasts on stocks, bonds, and major markets, told King World News in one of his greatest audio interviews ever that he predicts the price of silver will hit $160-$240.

July 12 (King World News) – Michael Oliver, Founder of MSA Research:  "What is going on right now is silver is compensating for having been restrained for so long by forces that are trying to hold it back.  And the problem with that is that when it bites them they are on the short side of the market so the squeeze is them exiting what are now vulnerable short positions.  And so I think that is the main driving force in silver in this slingshot move is killing the forces that have stood in its way for several years. 

The technicals argue to us that both silver and the gold and silver miners are now in gear to outpace gold, and by enough multiples to make the moves awesome — I think in a way that will drop people's jaws.  Meaning in relative performance we believe that the miners could triple in relative value vs gold.  So I think miners are the place to be and silver is the place to be, and you will see the drama of that, a lot of it, in the next six months. 

But let's assume gold does the normal bull market move of 8x and goes to roughly $8,000 from the $1,050 low, that's $160 silver at 2% (of the price of gold).  Silver has been 2% of the price of gold in 21 of the past 50 years.  Many times it's been up to 3% [that would equal $240 silver]!  On a relative basis I think that is what you could see.  The other issue is this……to continue listening to Michael Oliver's jaw-dropping predictions for the price of silver, gold, and the mining stocks in one of his greatest interviews ever CLICK HERE OR ON THE IMAGE BELOW.