Price of Silver

jon3001

SilverStandard wrote: »

The following quote in grams and Kilos:-

google silver bullion UK

What are you searching for? A small retailer who will sell you a 500g ingot of silver as well as a one ounce coin?

I'm talking about wholesale market associations who quote spot prices and trade in Good Delivery metal.

RDB

cloud_dog wrote: »

Well, the USGS is talking in terms of 13 years supply of 'easy' silver and 28 years of 'difficult' silver.

They have revised the number of years before all silver has been mined.

They now say there is 400,000 tonnes of silver still in the Earth to be mined.

They say all the easy to get to silver has already been got to. This last 400,000 tonnes will cost an awful lot to dig up and refine into 999 fine silver.

smeagold

its probably safe to say that within your lifetime and most definately your childrens silver will be a very rare, valuable and sought after commodity. Buy a few kilos and put them away somewhere safe for a decade or 2 as a retirement or inheritance fund, one than can never default, your certain to get back the buy price(in real terms) at the very least, so wheres the risk? In a world full of 'close to bankrupt' sovereign nations and banks a paper promise is a risky bet.

cloud_dog

RDB wrote: »

They have revised the number of years before all silver has been mined.

They now say there is 400,000 tonnes of silver still in the Earth to be mined.

They say all the easy to get to silver has already been got to. This last 400,000 tonnes will cost an awful lot to dig up and refine into 999 fine silver.

The USGS say lots of things, just look back at their reports over the years, its an inexact science.

My physical exposure is via Central Fund of Canada but my main exposure is via producers who should experience an increase a magnitude more than the price of physical.

lvader

What a load of crap, it costs lots money to do surveys to fine material resources like Silver. Why would they put any effort into finding it when the spot price and mineing cost is so close (it isn't now but it has been for many years)?

cloud_dog

There aren't many pure silver producers out there. Most of the silver mined comes about as a byproduct of mining for copper, lead, zinc, gold.

So not many companies go looking for silver (as you mentioned the profit isn't very large - or hasn't bee nhistorically). But, if your a copper producer then your costs are associated with mining for copper and any silver you produce goes directly to your bottom line (virtually).