Reply to Thread

Message:: [QUOTE="yakpoo, post: 661430, member: 18157"]<a href="http://silverprice.org/" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://silverprice.org/" rel="nofollow">http://silverprice.org/</a> sez... (2008 article) Silver mines produce around 650 million ounces of silver a year. Plus about 200 million ounces from scrap recycling, and 100 million ounces from investor selling, or government selling. That's a total of around 950 million ounces a year.  Of all that silver just over 40 percent is used by industry, 28 percent in jewelry, an additional 20 percent in photography and around 5 percent in coins and medallion. That comes to 95 percent of the total silver available.  So there is an apparent 5 percent available for investment but, as investment is starting to increase this percentage is diminishing rapidly. Silver consumption has been increasing since the 1950s and an increasing percentage is 'lost' in consumption each year due to deterioration, destruction and hoarding.  It has been estimated that there is only around 200-300 million ounces of silver available to the market at the present time and about 125 million ounces of silver at the NYMEX, the big commodity exchange in New York.[/QUOTE]