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Sprott Physical Silver Trust ET (PSLV) Message Board

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  • buzz60016 buzz60016 May 25, 2012 12:57 PM Flag

    Mr Sprott

    Important question

    What is the cost to mine ONE OUNCE of silver ?

    What is the cost to mine ONE OUNCE of gold ?

    It costs less than $10 to mine one ounce of silver

    It cost less than $600 to mine one ounce of gold.

    Supply and demand will caause price flucutations.

    It is possible for silver to fall back to $10 ......

    The fear of printing, and currency debasement has given metals a new life.

    Make no mistake, in a few years, if the currency market get healthy - metals will fall hard.

    Then again, if the US Dollar crashes, metals would go higher.......

    Problem is, no other currency is better than the US Dollar.

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    • "No currency is better than the US dollar."

      For now, but China is making a strong play to have Yuan eventually surpass the dollar as the new reserve currency of the world. They are acheiving this by purchasing as much gold as they possibly can in addition to what they mine domestically so that they can eventually back their currency with gold and to a lesser degree silver. Having the dollar crash today is not in China's best interest as they hold the largest reserve of US dollars in the world; somewhere in the neighborhood of $3.6 trillion. The US dollar is backed by nothing and on top of that we have over $16 trillion in debt. We are on an unsustainable economic course and the dollar is certainly losing value; down 96% since 1913.

      The dollar is rallying today simply due to the Greece saga which is impacting the Euro. This rally will soon fade and gold and silver will resume their upticks. A year from now anything purchased at current levels will be considered a great bargain. Having said that, if the chaos in the Euro zone continues we could get much lower prices in the near term which would be an excellent opportunity to load up.

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