In my opinion, silver appears to have 2 factors that affects the pricing significantly. Historically, silver is the primary store of value (a.k.a. savings) - gold is used mostly for jewellery and ornaments. Copper is used for marketing. At the same time, due to above the ground scarcity, silver can become very speculative. There is only 3 billion oz of silver above the ground. So in theory, $50 billion would buy all the silver. The rate of savings has been on a general decline, so it's not surprising that Silver is less desired today. There's a 3rd factor of silver, which is industrial use that until now does not really affect the pricing due to excess supply over demand. However, if demand continues to increase and in the ground supply dries up, in the long term, this factor will come into play as is the case of oil.
In the 1970’s we were told oil was at critical point. I’ve lived long enough to say it was fair to call that bs. Same as any media speculation about to da moooooooon silver. 999 BS.
