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Gold/Mining/Energy : Silver prices

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To: CuriousGeorge who wrote (310)	12/19/1997 3:10:00 PM
From: TD	Read Replies (1) of 8010

Silver: The Millennium Metal by Paul Sarnoff c/o Bull and Bear. "My metals consultancy for the past 11-years has studied the supply/demand figures annually by the various research organizations. And we have come to the considered conclusion that new silver production aired in these annual reviews has been greaatly overstated--and requires 'haircuts'." So we came to the conclusion long ago that annual demand of nations that have electrical power for its citizens will have increasing annual per capita silver demand. India, China, and other Asians now have such power. As a result it is not improbable to forcast that when the millennium arrives the world will have more than 6.12 billion people. Annual silver usage will have to increase 1.986 billion ounces and new mine output is expected to be around 541 million ounces. The article goes on his big assumption is that the Asians will consume 1/4 ounce per person per year. I think I finally found out that annual useage in the usa is 1/10 ounce per year. Can anyone verify? Keep in mind Paul Sarnoff is the ultimate silver bull, maybe we can adjust his nubers down if we get a clear understanding on true silver demand. td

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