Why price of silver stays at $17 for years?
Greetings Steemians! Glad to be among you, I just joined in.
Right to the business: Dow Jones skyrocketed like what, 70% in 5 years? Governments print money like crazy, as much as they like and nobody controls it, yet silver costs always the same since like 4 years, $16 or $17 /oz. Silver is used heavily in many industries, and gold isn't. There is like 15x more silver than gold on earth yet gold is 70x more costly than silver. And a lot of silver was used in the industry already, and salvaging it from the components on a big scale is hard to do, while almost all gold is simply stored for the value, so the ratio changes in silvers favor. People, including US president, scream there is bond / stock / real estate bubble, and when ppl realize they are in a bubble, they buy precious metals heavily, but silver is still and always $17.
Have you ever wondered why is that? I'd like you to stop for a while and give it a thought. Don't trust anyone's judgement, just do a bit of research and think about it for a while. Give it an hour or two. Have your own opinion.
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nice post@citizen7