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Gold/Mining/Energy : Silver prices
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To: Harry K who wrote (722)2/15/1998 9:16:00 PM
From: rdww   of 8010
 
Last yr Indian buying was up 50% to 100% from the year before. So if they have this surplus and sell it back - it won't create a huge surplus in the Ag stocks. It may help to balance out some shorts and some production. So then we are back to the use more / produce less scenario which leaves us still short. This scenario could play out for 1-2 yrs. In the Hunt day there were line-ups to sell all silver - but I don't think that this was at the $8 oz price - more likely in the $20-50 range. So if the closets get cleaned out now - it should only delay at worst and the rise in Silver over the next 1-2 yrs.
Very little production can start up overnight - I know of company that feels they have millions and can put into production fairly easily - but the earliest is 6-10 mths.

The problem won't go away for some time and dishoarding of a material in short supply should make the end result more exciting.
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