Don Durrett: Gold to US$7,000, Silver to US$200 — 10 Baggers Still Out There

Don Durrett reiterates an aggressively bullish long-term call for precious metals, targeting gold at US$7,000/oz and silver at US$200/oz, with room for both to overshoot if the current cycle extends. His main point is that the equity leverage remains exceptionally strong: he says there are still “10 baggers” across the sector, and that nearly every silver producer is already up more than 5x from prior levels. The interview frames the opportunity as still being in the middle stages of the bull market rather than near exhaustion. Durrett’s argument is that mining equities continue to offer convex upside relative to bullion, especially in silver producers, where operating leverage to higher prices can materially amplify returns versus spot metal. The piece does not provide a fresh model or new fundamental data, but it does give explicit price targets and a strong view on sector asymmetry. For traders, the takeaway is that this remains a high-beta precious metals bull case, with silver equities seen as the most leveraged expression. The key risk is that these are forecast levels rather than near-term calls; the timing is undefined, so the statement is more useful as a sentiment/positioning read than as a tactical trigger. Near-term attention stays on whether bullion can sustain the existing uptrend and whether mining equities continue to outperform as risk appetite rotates into the sector.