Correct me if I am wrong, but solar demand for silver was negligible as recently as the middle of the last decade, but now it's OVER 75 MILLION OZS annually, and heading to 100M oz. Furthermore, China plans to increase capacity from 5GB to 30-40GB later in this decade. Do you know how much silver this is? The cheaper silver gets, the more compelling it is, that's for sure. If I own bullion or a miner with low cash costs I have nothing to worry about in the longer term scheme of things. And bullion outside the system is the IDEAL way to store wealth, I don't give a RAT'S PATOOT what anyone else says.
I'm not buying the MSM MOPE that the PM bull is dead, nor their lies about how good the economy is doing.
I like owning a fairly pure silver miner. Who cares about lead and zinc and copper. Silver mine supply is set to decline with base metals tanking. That means mines being shuttered and millions of ozs not coming to market. Also, any broad based commodity decline will see fuel and energy costs decline substantially and ease on the cost side. Miners will always cope with increasing labor costs, but energy and materials costs could have peaked in the near term. Silver remains MONEY even if they drop the price in the short term.
THERE IS LESS THAN 1 BILLION OZS OF SILVER AVAILABLE FOR INVESTMENT DEMAND AND MOST OF IT IS NOT AVAILABLE A PRICE LESS THAN WHAT WE SAW IN 2011. IT WOULD TAKE FEWER FED NOTES TO BUY ***ALL*** THAT SILVER THAN THEY PRINT EACH MONTH MERELY TO KEEP BANKS AND UNCLE SAM FROM GOING INSOLVENT!
Pascua Lama and Bingham Canyon: 35M ozs of annual silver supply evaporated for at least a decade. Unfortunately for silver shorts who have unlimited Fed credit lines, and may in fact be operating at the Fed's behest, cannot change the fact there is not enough silver to supply industrial AND investor demand, and this will not change for at least a generation unless silver explodes and brings out lots of marginal suppy.
the guru pumper seems to have blown a fuse and is resorting to ALL CAPS & EXCLAMATION!!!!!!!!!!!!!
Sorry pumper, PV solar demand is about 7% of total industrial demand for silver & industrial demand is on no way the main driver of silver prices. You Silly Silver Hugger you.
Here's some sobering facts:
"NPD says end-market PV demand increased by a mere 5% in 2012. The PV manufacturing sector expanded its capacity in 2010 and 2011 with the hope of supplying 45 GW to an end-market in 2012. However 2012's end market only reached 29 GW giving rise to overcapacity" and bankruptcies.
2013 PV demand is forecast to rise 5-10% again, and given how often those forecasts prove to be too optimistic, well, don't bet on it.
You Silly Silver Hugger you.
btw; your "75 MILLION OZS" is wrong & your #s for China are just ignorant
There may be bankruptcies, but the sector is not going away and there will be reorganizations and survivors. Also, I project that govt subsidies are coming back to stimulate employment and GDP. If govts can print money to forestall banking and fiscal insolvency, why wouldn't central banks print free money to get free printing press ENERGY.
BTW, total industrial demand for silver is ~750M ozs (not counting any investor demand). 7% of that is ~50M ozs. This is not negligible. The point is solar demand will keeping increasing y-o-y indefinitely. Even if it is only 5-10% that is better than the rest of the economy which is ZERO or LESS GROWTH. (Like the CAPS?)
Go ahead and believe countries are not thinking about how to create lasting renewable energy. Keep believing counties want to keep forking over billions for coal and other dirty fossil fuel energy and ruining their country's import/export balance of trade and their environment. And keep believing that falling global silver mine supply won't have any effect on supply/demand fundamentals and price. And that will happen if base metal prices keep sliding.