Surprising Statistics On Silver And GoldApril 21, 2011 5:31 pm
Price is a function of supply and demand. Meet two goods that have a 9:1 ratio in supply, but a price ratio of 35:1 – Silver and Gold. Such a magnitude difference in demand – is this justified?
“In 2010, the world mined approximately 736 million ounces of silver and 85 million ounces of gold.3 The world also produced an additional 215 million ounces of silver and 53 million ounces of gold from recycled scrap.4 Adding both together brings us 951 million ounces of silver and 139 million ounces of gold supply, for a ratio of nine ounces of silver to one ounce of gold.”
Statistics Source: Industrymailout