During 2003-2009, three fields had been rapidly absorbing silver, i.e. industrial, photography, and jewelry. The three of them absorb 66% of 889 million ounces of world silver supply. In 2003, per ounce silver was priced at $4.50. By the end of 2010, it had rocketed $30 per ounce. However, it will be more appropriate if it is considered that the future of silver industry, although has a rather beautiful appearance these recent years, is uncertain.
The raise in silver price is reportedly due to speculators and investors. Fabrication is largely still the biggest demand for silver. With the price still soaring in the first days of 2011, one may speculate with bigger money in the silver industry. However, the next periods shall not be looked comfortably as the peak moments. This is because prices jump over 50% in very short time frame will presumably make a sharp consolidation or even reversal in the trend.
The silver buying mania could be down or up extremely quite suddenly. If the price is still increasing rapidly as in the last ten years, it will be alright. However, if downfall is what eventually occurred, may be it will need very long time to recover.
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