I guess you're right, but somehow my gut feel is that Silver is going to be much higher than $20 an oz in 10 years, although in the short term, it is possible to fall to $13 or even lower, especially with the coming AFC 2.0.
Today, I saw 2 silver trinket stalls at a flee market near my home that attracted an unusual number of women (young and old). I didn't stay long enough to see if anyone was buying. People were so crazy over white color metal that they made gold white. I decided not to go for white gold when I bought my wedding bands as I thought it's crazy to pay "gold price" for "silver looking" metal.
People actually wanted silver but they couldn't bear to put it on as it is too cheap. I believe that the jewellery demand for silver will rise if the price of silver were to go to above $50/oz.
As for gold, my current physical gold to silver ratio is 2:3. I think gold is relatively more expensive than silver and so only bought gold as a hedge against silver, but based on what is happening now, this strategy failed as gold has fallen as much as silver.
