by Craig Hemke, Sprott Money:
Gold is soaring, silver’s catching fire, and legendary investor Eric Sprott says the real move is just beginning. In this must-watch episode of Ask the Expert, Craig Hemke sits down with Eric to discuss gold and silver price forecasts, mining stock opportunities, and why now may be the best time in decades to invest in precious metals. Watch the full podcast now and position yourself for what could be a historic run.
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Eric Sprott on Gold Price Trends: Why 2025 Could Be a Record Year
Eric Sprott sees 2025 as a historic breakout year for gold. With gold prices currently above $3,400, he believes the fundamentals are finally allowed to manifest after decades of manipulation, especially by large banks using short positions on the COMEX. According to Sprott, institutional interest is rising, and physical gold is being steadily withdrawn from exchanges like the LBMA and COMEX—a powerful signal that demand is real and growing.
He emphasizes the incredibly tight supply environment, noting that the gold mine supply grows by only around 1% annually. With demand surging and limited new production coming online, gold’s upward trajectory seems hard to reverse. Sprott has nearly 90% of his portfolio in gold and silver-related assets, a position he says is growing in value and importance daily. His bullish stance is built not only on market sentiment but also on a solid supply-demand imbalance.
For retail investors looking to buy gold, Sprott warns against unallocated or paper gold products. Instead, he recommends owning physical gold or well-managed ETFs backed by real metal, such as those offered through Sprott. His outlook remains firmly positive, expecting higher all-time quarterly closes and potential record-setting prices in the months ahead.
Silver Price Forecast: Eric Sprott Predicts a Run to $70 and Beyond
Few voices are as consistently bullish on silver as Eric Sprott, and in 2025, his conviction has only intensified. He credits analyst Michael Oliver for accurately calling the initial breakout above $35 and projects a powerful follow-through toward $50, $60, or even $70 silver within months. According to Sprott, this is no speculative surge—it’s the result of a real, systemic supply shortage.
Silver demand is being driven by its critical role in solar energy, solid-state batteries, and military technology. Meanwhile, supply remains stagnant. Only 25% of global silver production comes from primary silver mines, with the rest as byproducts of other mining. Sprott points to a recurring 200 million ounce annual deficit and years of drawing down above-ground inventory. “We’ve eaten through 800 million ounces already,” he says, warning of an imminent crisis.
He also challenges the long-standing gold-to-silver ratio, which hovered around 100:1. Sprott believes a reversion to historic norms (closer to 15:1) is inevitable. If gold hits $8,000, as Oliver predicts, silver could surpass $400. Investors looking to buy silver now may be catching the early stages of an unprecedented move.
Sprott’s preferred vehicles include SIL and SIL-J ETFs, and a strong position in junior silver stocks where he sees massive upside potential. “If a silver miner’s cost is $20 and silver hits $70, that’s $50 in profit per ounce,” he says. “That kind of margin means stocks can rise 800% or more.”
Mining Stocks Investment Strategy: Why Eric Sprott Prefers Junior Miners
While many investors chase large-cap gold producers, Eric Sprott firmly prefers junior mining stocks, especially in silver. He argues that smaller companies offer the most dramatic upside, particularly when precious metal prices surge. According to Sprott, many of these companies were considered “worthless” just a few years ago but are now sitting on extremely valuable deposits due to rising prices.
