Prices precious metals out of whack?

The-Joker

It costs around the same price in energy and labor to retrieve any precious metal from landfill. Just the same as it's the exact same process to mine gold or silver from the earth the first time. Sometimes you get gold and silver in the same ore, the costs are exactly the same then. Looking at the prices of each of the four primary precious metals per ounce at the time of writing. Gold is $1600 Platinum is $1000, Palladium is $1950, Silver is $18, not $1800, not even $180 but silver really is priced as just $18 per ounce!! Why such a difference from the other three PM's? You can see which is worth retrieving from waste and which is not. It is a lot of work and energy to retrieve an ounce of silver from waste, it costs a great deal more than $18. You could just go and buy an ounce from the market at the manipulated down $18 per ounce.

msallen

Supply and demand.

Username999

Mining Costs per Oz:
Gold $988
Silver $12

Apodemus

Joker, you are starting with the basic premise that it costs the same to recover regardless of the metal. What basis do you have for that?

The-Joker

Username999 wrote: »

Mining Costs per Oz:
Gold $988
Silver $12

That’s nonsense

Electrum is gold mixed with silver it costs exactly the same to mine

It’s just that 75% of silver is now called ‘by product’ which means the costs for mining all are put on gold and they say the silver is extracted from the earth almost for free

The-Joker

msallen wrote: »

Supply and demand.

There is way more demand for silver than gold. Silver is essential in tens of thousands of industries gold only a fraction in comparison.

Plus gold is economic to retrieve from landfill but silver is not as it costs the same to retrieve an ounce of either from landfill

Around 16oz of silver were mined for every 1oz of gold through history this has now halved to 8oz silver coming out the ground for every 1oz of gold.

All the easy to get to silver has been mined and consumed, the mined ratio to gold has now halved and still falling. It will be 1oz silver for every 1oz gold soon and they will still put all the mining costs on gold then tell people that the silver is by product and has mining costs already paid for by the gold mining������������

The-Joker

Apodemus wrote: »

Joker, you are starting with the basic premise that it costs the same to recover regardless of the metal. What basis do you have for that?

It the exact same process that’s the basis

Are you claiming it’s cheaper to retrieve silver than gold from landfill?

The-Joker

How do you explain Gold is $1600 Platinum is $1000, Palladium is $1950, Silver is $18, not $1800, not even $180 but silver really is priced as just $18 per ounce!! Why such a difference from the other three PM's?

AG47

msallen wrote: »

Supply and demand.

I didn’t know palladium is now twice the price of platinum? They can both be used in most uses in industrial demands. So now it’s half the price to use platinum in your Toyota Prius than palladium? There does seem to be something off there?????

But there seems to be something extremely far off with the difference between silver price per oz and the other three PMs?

Available stockpiles of gold are now far larger than silver.

So the supply of gold is greater than silver and the demand of silver is far greater than gold.

So silver has more demand and less supply than gold, yet gold is still priced more than silver.

Of all the gold mined a small amount is used in industrial demand and it is all retrieved. 100% of the gold used in industrial uses is recycled. The amount of available gold stockpiles in increased every year.

Most of the silver mined each year is consumed by industry and is uneconomic to recycle until the price goes up to meet the other precious metals.

Any silver retrieved from landfill costs more than to go and buy from the open market at just $18 oz, so why get silver back from electronic waste?

It is economic to retrieve gold, platinum and palladium from waste but not silver until the price goes back up to meet the other three.

Silver is A VERY good investment before the price goes back up to meet the other three primary precious metals

Apodemus

The-Joker wrote: »

It the exact same process that’s the basis

Are you claiming it’s cheaper to retrieve silver than gold from landfill?

I’m not claiming anything, just keen to learn, and always wary of unsupported statements of fact!

AG47

Apodemus wrote: »

I’m not claiming anything, just keen to learn, and always wary of unsupported statements of fact!

Me too.

I’m keen to learn.

Here is a good explanation of how the mining costs are the same for gold and silver but as silver is said to be a by product of gold all the costs are put on gold and silver is said to be almost free.

It could just as true to say it costs $1900 per ounce to extract the silver, and gold is just left over from the electrum

https://www.sprottmoney.com/Blog/silver-mining-vs-gold-mining-the-dynamics-explained-jeff-nielson.html