If you don't read any other article on Silver Investing this year read this one.
By Eric Sprott
Average annual gold mine production is approximately 80 million ounces, which together with an estimated average 50 million ounces of annual recycled gold, totals around 130 million ounces available per year. In comparison, annual mined silver production has averaged around 750 million ounces, while recycled silver is estimated at 250 million ounces per year, which adds up to approximately 1 billion ounces. Using this data, there is roughly 8 times more silver available to buy than there is gold. However, not all gold and silver is available for investment purposes, due to their use in industrial applications. It is estimated that for investment purposes (jewelry, bars and coins), the annual availability of gold is roughly 120 million ounces, and of silver it is 350 million ounces. Therefore, the ratio of physical silver availability to gold availability is 350/120, or ~3:1.1
Tuesday, December 25, 2012
Merry Christmas to all my blog's followers. I hope Santa was wise and brought you many shinny metal things this year.
Hi'd Hi'd Ho Ho Ho
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Breaking The Set - Oliver Stone on Obama's Empire
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Labels: Breaking The Set
Asia's 2013 Billionaires
Want to know something scary? Every one of the billionaires featured in this report could buy up every available ounce of silver in the world on their own. Got silver?
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