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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: goldsheet who wrote (3144)	12/16/2000 12:45:31 PM
From: goldsheet	Read Replies (2) \| Respond to of 8010

Here's another tidbit. Silver supply has been increasing faster than demand over the last 5 years, which means the gap continues to close CPM mentioned the gap could be heading as low as 60 million ounces. I guess the game is "will the gap get to zero before the stockpiles run out" or "will the price rise enough to generate a little more scrap to close the gap". Either way it's easier to fill a 60moz gap that the historically much larger gaps. "Total new supply has risen from around 510 million ounces per year in 1993 and 1994 to around 700 million ounces in 1999. Demand meanwhile has risen, albeit at a slower pace. In 1994, fabrication demand totaled 694 million ounces, and exceeded total newly refined supply by 184 million ounces. Last year, fabrication demand totaled an estimated 849 million ounces. That represents a 22% increase, or a compounded annual growth rate of 4.1%. That is a rapid growth rate, but it was less than the rate of expansion in supply, so that the deficit is estimated to have narrowed to around 150 million ounces. "