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<p>[QUOTE=&quot;Tinpot, post: 1910387, member: 35836&quot;]Mining price does not mean that much for gold, there is about 6 billion ounces above ground, with around a 100 million ounces mined per year. Even if half of the mines closed it really wouldn&#039;t have that much affect on overall supply. It would certainly be bullish but not a guarantee of an increase in price.</p><p><br /></p><p>Mining price is slightly more important for silver since about 60% of yearly mining production goes to industrial applications where later recovery of the silver may prove cost prohibitive.[/QUOTE]</p><p><br /></p>

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