Metals News

The world gets silver from silver mines, and what governments and people sell. In 2008, supply crossed 28,500 tonnes. Silver mines accelerate production when prices are attractive. People and governments too sell their family silver when prices are attractive. When prices plummeted after the financial crisis last year, scrap sales plummeted too. But the world also gets a huge quantity of silver as a by-product of lead, zinc, copper and gold mines.

2008 was the year of credit bubbles, in the United States and rest of the world. Will 2010 be an year of bullion bubble? Will gold price, instead of going up to $2000 per ounce as predicted by Jim Rogers, plunge to $800? Some bullion analysts believe and insist that gold prices will fall, that too drastically. So should we wait for $2000 gold or $800 gold? Will gold crash to $800 or surge to $2000? Remember the crash of 1978-79 when gold, crude oil and diamond prices went up and suddenly crashed down.

World crude steel production has risen 13.1% in October at 112 mn metric tonnes on an annualised basis. This the second month in a row, positive production growth figures are being reported after September 2008, according to World Steel Association