I own hundreds of pounds of silver and unfortunately, less than 10 oz of gold.
I maintain a very sober and detached view of PMs because I have studied them for ten years, I have heard it all, and I try to remain apart from “gold standard” “end of the world” “JP Morgan manipulation” frenzies. I know a lot about the production of and trading of the metals, but I am not a trader nor miner nor refiner (though I woud like to be) of same.
When I first began to acquire silver it was from the school lunchroom gals who made change at my jr high cafeteria, in 1965. I exchanged dimes and quarters for dimes and quarters, at face value. I eventually saved about $175 which was a serious pile of money for me at the time. One day, my very own silver window snapped shut and I stopped getting any change after school.
In 2001, I could see that one could not get silver out of the ground for $6. Same with $265 gold. It had NOTHING to do with being a precious metal. It was a price that was below the cost of production for something that I liked. It was like buying a slice of baloney for a penny. You can not birth the cow, feed the cow, raise the cow, slaughter the cow, and bring the product to market for one cent. I happened to like silver and began buying it. I wish I had done so for gold.
This blog will help you understand the demand for silver
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