Price of Silver Soaring

[tangent4ronpaul]

Investor-Fueled 74% Gains Dwarf Gold; Race to Open Mines

http://online.wsj.com/article/SB1000...398067948.html

BIG CREEK, Idaho—An unexpected surge in investor demand is sending silver prices soaring—and speculators and mining companies are digging in.

In the past four months, the metal has upended forecasts, rising 51% to a series of 30-year highs, before inflation. Silver closed Thursday at $29.31 a troy ounce, up from $16.822 at the beginning of 2010.

Among the four major precious metals—the others being gold, platinum and palladium—silver is up 74% this year, on track to be the second-best performing commodity after palladium, which is up 86%. Gold, by contrast, is up 26% and copper just under 28%.

...

The global silver appetite partly reflects world economic improvements. Investors from the U.S. to China turned to "hard" assets such as copper and other commodities in part as a hedge against inflation worries. Silver benefits from a dual role as industrial commodity and precious metal.

...

[Corydoras]

And reserves are limited. According to the U.S. Geological Survey, there are fewer years of U.S. silver production left in the ground than any other precious metal including gold.

I have been seeing this claim online for years, but never a link to the USGS. This is the first time I've seen this claim in a publication that was not run by silver bugs, and that to me seems quite significant. The market really is heating up.

But again, no link to the USGS. If the Wall Street Journal says it, does that make it true? lol