Why Silver Miners Are Turning to Gold Like Never Before

"We have the biggest silver reserve in the world and Pan American will to go back to essentially the same silver-to-gold ratio seen before recent acquisitions," says Michael Steinmann, president and CEO of Pan American Silver. "Inflation came in higher than expected last year, and I think we are over the hump now and hopefully that continues the rest of 2023," he tells Daniela Cambone at the Gold & Silver reception during PDAC 2023. "I think it will be a sticky battle for the Fed on the inflation front," Stienmann continues. "Silver is one of the most critical components to create everything. It's an absolute critical mineral when advancing humanities' path with electrification," he reiterates. "Interest rates need to go a bit higher. It will still put pressure on the silver and gold prices, but the price will run quickly once interest-rate hikes are over," Stienmann concludes.

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