Silver tends to be a byproduct of copper mining. With copper at $5 a pound, that will boost mining. So, silver should come back down a bit over time.
Unless the D’Anconia Copper just shuts down the mines.
Who is John Galt?
Yes, but with a very long lead time
Production from existing mines has peaked. New mines, on average, take 12 years to go into production as no one wants them in their backyard. For example, earlier this year, environmentalists were able to get the Panamanian government to shut down the 15th largest copper mine in the world (First Quantum's Cobre Panama), which is 1.5% of world production.
The only thing that will destroy copper prices is a big recession.
“ Hot Commodity Silver Outpaces Gold as Buying Gains Momentum
Ratio to gold suggests cheaper metal has scope to extend climb
Global market on course for fourth straight year of shortages….”
Silver deficits are increasing worldwide, do your research. Most notable is the move in Mexico to shut down all open pit mines and other “ unsafe” mining operations. It goes up for vote soon: IF that happens, triple digit silver is a given….also much talk that the US Comex silver market may be approaching “ failure to delivery “ - silver paper contracts are increasingly being settled in $$$, not physical.
I am of the opinion we will see triple digit silver in the near future.