What is up with the crash in silver prices

No matter how much it drops, the cost of silver to mine stays the same or increases. These mines are closing and not mining new silver. It's still being used at an alarming rate. And unless the industry stops using silver in their products, The price simply has to go up. That's all there is to it.

 

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Yes, very true.
Gold: 711.30
Silver: 9.33
Platinum: 790.00
Palladium: 167.00

While every thing else dropped rhodium jumped 100 bucks.....

So why are palladium maple leafs still 300+ bucks..... :computer:

I want palladium SOOOOO badly.

 

There is NO crash in silver price ;-)
Year/Min.Wage/Silv.Avg.Per Ounce/Amount of silver you could buy per hour at min wage.
1938/0.25/.428/.5841 oz per hour
1968/1.60/1.959/.8167 oz per hour
81-90/3.35/6.859/.4884 oz per hour
97-07/5.15/6.671/.7719 oz per hour
today/6.55/9.40/.6968 oz per hour
so why is everyone making such a pout, 17 per ounce was loony at .3853 oz per hour, silver was just on a super high ;-) welcome back down to earth peoples lol

Donny

 

The only true crash to silver is
"Silver is currently about 1/67th the price of gold by mass and approximately 57 times more valuable than copper. Silver once traded at 1/6th to 1/12th the price of gold, prior to the Age of Discovery and the discovery of great silver deposits in the Americas, including Peru, Mexico and the United States"

 

Not true Haleiwa. If prices are competitive enough, there will always be new mines. The question is how can mining companies economically recover the ores and optimize the cost. The biggest cost is the setup and then the operational cost. Of course, fuel prices plays a big role in this as everything from mining equipment to labor has to be trucked in and out.

What most people don't understand is that when prices are really high, production actually FALLS to allow economical recovery of low grade ores.

 

Stand back boys... he's doing MATH!!!!

 

Yep...

 

looks like we are back to 2005 prices