For me, it seems that silver will go down even further. In the past six months, silver has lost almost 20% of its value against the United States Dollar, and I am yet to see any signs of a stabilization in the exchange rates. And unlike gold, the supply of silver is not that limited. There is a lot of silver in the world, which can be recovered economically.
I beg to differ (in a big way).
I have researched this topic since 2005 and the world supply of silver above ground, is less than 1.5 billion ounces available for investment and industrial use. Try to compare that against the 5 billion ounces of gold in the world. What your post should have read like, should be: "There is a lot of
PAPER silver in the world". Every year, the world production oscillates between 700 to 800 million ounces (with production winding down), of which 600+ million are used in all kinds of industries and the world hunger for industrial silver has begun to out-pace production. The us geological society conducted a study and it concludes that silver mines will run out of its ore in less than a decade (if new important discoveries are not made).
Now for the cost of production: I focused my research in the two most important producers of silver in the world; Mexico and Peru. For the last two years, minors have been working at below cost of production (19 - 24 usd X ounce) . Several mines have closed and only the bigger ones have been able to keep their neck above the watter, but only by mining their top grade silver deposits (the purest and easiest to mine.) There is a severe penalty for this in the not so long run. And as of 2015 the Mexican mint has been rationing the Silver Libertads, just as the US mint has runned out of silver eagles just this month and it already announced that it will not make more coins until more silver can be procured.
You see, the problem is that we have no more markets, just manipulations.
