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<p>[QUOTE=&quot;medoraman, post: 990553, member: 26302&quot;]I never said $5 was the correct price at the time for silver, I thought it was cheap that is why I bought then. </p><p><br /></p><p>If silver is used in tiny quantities, then how is 700 million ounces of production going to be used every year? If it is sizable quantities, then any long term sustained price appreciation will affect demand. Simple economics. If silver stays above $20 then substitutes will be made, maybe temporary maybe permanent. Years ago there was a price spike in copper and most copper pans ceased manufacture. How many are made today? Even when copper got cheap in the 90&#039;s how many were made? Almost none, because the market found a substitute and never again used copper in that way. Same with any metal, a price spike will cause industry to find substitutes, maybe temporary, maybe permanent. Silver used to be used in many uses that it is now too expensive for, and as the price continues to climb its remaining uses will dwindle, along with industrial demand.</p><p><br /></p><p>You don&#039;t have to believe me Cloud. I do not know specifics about silver, but I do talk to former workers in the automotive industry that work has begun again on reducing copper and nickel usage in that industry do to price increases. Industry will not sit idly by and accept all increases PM investors would hope for.[/QUOTE]</p><p><br /></p>

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