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Gold/Mining/Energy : Silver prices

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To: Canuck Dave who wrote (4469)	1/14/2002 4:17:24 PM
From: goldsheet	Read Replies (1) of 8010

> If silver fundamentals were good last week, they're still good today They were OK, but we are near the top of a trading range and the overhead resistance at $5.00 is massive. Corrections are normal, and one need not be a bear to observe them. Silver probably need more time in the $4.50 area before it can move again, and testing $4.30 isn't unreasonable. > The fact remains that mine production is not keeping up with demand Mine production has been rising faster than demand over the last few years, and the gap between mine production and total demand continues to decrease. (Close to 80% of silver demand is met by mining versus only 65% for gold) Last number I saw showed production running up about 7% with demand flat. Mexico and Peru, both had over 10% increases. The gap continues to close, and might be eliminated before the stockpiles run out.

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