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<p>[QUOTE=&quot;medoraman, post: 989839, member: 26302&quot;]Could be Cloud. I know the market was operating well in 1980, its just the run up was not caused by any demand spike or supply shock, it was simply a classic cornering of the market, which the Hunt&#039;s attempted but underestimated the physical supply of silver that could and did undermine their attempt. Silver probably would have hit $30 in 1980, but it never would have hit the highs it did without them trying to corner the market. That is why I think that price is unjustifiably high as a goal. Could silver hit what would be a new all time high of $30, (absent what Hunt&#039;s did)? Yeah, it could, I am not too hopeful but it could. Could it hit over $50? I seriously doubt it. </p><p><br /></p><p>Most of silvers industrial uses go away at such high prices. Like I discussed in a platinum thread, industrial uses both plus and minuses. They give stability to a market, at a price, but above that price there are substitutes for most applications. Having heavy industrial use effectively caps a metals price. Who would be buying all of the silver at $40? I am prety sure most industries wouldn&#039;t be, they would be switching to another metal. I am not in my former job anymore where they used various metals, but talking to former coworkers there is already a lot of dusting off of 30 year old projects going on around the country making plans for discontinueing inclusion of many metals in manufacturing. So do you think, long term, that speculative PM buyers will continue to be enough demand to buy up all of the new silver coming onto the market that is overpriced for industy? Too much of a run up would be detrimental to silver prices in the long run. If silver slowly goes up, and maybe stays around $20 all of next year I would be much more bullish on its prospects than if it did jump up to $24 or higher. Too fast of a run up will kill its industrial demand.[/QUOTE]</p><p><br /></p>

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