Quote:
Originally Posted by Flaming Homer
For sure. I mean say I paint a picture. It's a 1 of 1. I'd be lucky if any one wanted to pay a nickel for it. Rarity 100% factors into price. But demand is always required for anything to be of value. Rarity on its own cannot.
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Ah, ya, the price of resources in my mind is very complicated. Since I am in Information Security, I'm an expert on mining lol; so I did some quick googling. It looks like the demand for silver is 991.8m oz and the demand for gold is 154m oz.
Gold demand:
https://www.gold.org/goldhub/data/go...and-statistics
Silver demand:
https://www.silverinstitute.org/silver-supply-demand/
It looks like both gold and silver outpace demand with supply, though silver seems to outpace by 50m oz vs 10m oz with gold.
The cost to mine gold is $1,000 per oz vs $10.56 for silver.
Gold Average:
https://www.mining.com/featured-arti...n-the-world-q1
Silver Average:
https://www.americanbullion.com/what...-silver-today/
I found this research very illuminating, also based on this research silver below $20 means the price should go up as mines slow down. Silver at $30 is quite profitable for the mines; when looking at ROI more profitable then gold.
Disclaimer: In the discussion here, I ignored market hedging as that is quite a chaotic variable and just focused on the real-world markets of the two resources.