https://www.financialexpress.com/india-news/up-sonbhadra-goldmine-discovery-geological-survey-of-india-latest-news/1876106/
Here is the published PDF of the U.S. Department of the Interior U.S. Geological Survey MINERAL COMMODITY SUMMARIES for 2020. https://pubs.usgs.gov/periodicals/mcs2020/mcs2020.pdf
Silver is covered on pages 150-151. The total Global Silver Supply is covered on page 151. The global mining supply apparently was 560,000 tons in 2019. 560,000 tons of silver multiplied by 32,150.7 Troy oz in a ton which equals a total of 18,004,392,000.00 silver oz existing in the world in 2019. But we know that much of that is used up in industry in the world and then in our disposable world, silver is then discarded in itβs various merchandise into landfills And it is replaced by consumers who purchase new merchandise.
18,004,392,000.00 silver oz. That was the total global oz of silver reserves globally in 2019. I imagine due to Covid all mining production slowed a bit in 2020 and 2021. Meanwhile the private investor demand for investable silver coins and bars has exploded. The silver dealers tell us so.
So of the 18 billion of oz of silver that exist somewhere in the world, (many oz probably forever unrecoverable and spread around in landfills,) how many oz do you own?
I imagine by now that most of that 18 billion oz has been used up by industry or sold to investors. And with the price of fuel hyperinflation, the cost of mining companies buying fuel to mine more silver and other metals, the price of silver will be forced to rise. How much will your silver soon be worth?
