In 2018 there was 1B oz of silver produced, with 213M oz sold as jewelry, 181M as coins/bars, 61M as silverware. Industrial use was 579M.
If you consider jewelry, coins/bars, and silverware as store-of-value, that means we're looking at 455M vs 579M. Ie 55% of silver's price is driven by industry.
Am I missing anything there?
DislikedIt is surprising to me that ~300 tonnes of gold was used in electronics, which can eventually be recovered as the recycling becomes more and more in focus.Ignored
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About that 3% industrial usage number, that seems high to me, but I see how you're getting it. I'm looking for some other supporting evidence.
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