Silver prices are not likely to catch up to gold soon, said Jon Lamb, Orion Resource Partners’ portfolio manager.
In an interview with Kitco News on the sidelines of the 121 Mining Investment Conference in New York, Lamb said that when looking at silver in historical terms, prices may remain depressed when compared to gold. “Right now, the gold-silver ratio, thinking about it in historical terms, is going to remain at these high levels,” he said. On gold, Lamb said that it is important to take prices into context before dismissing the yellow metal as undervalued.
“Gold has seemed to find a home between $1,250 and $1,350 [an ounce], without any macro reason to have it move. I think that’s a pretty stable range. Looking at the gold price in other currency terms, in Australian dollar or Canadian dollars, it’s a very high price in a historical context, even competing against the highs of several years ago,” he said.