dmnd for ag insufficiet to drive prices higher, page-3

Investment demand vs Industrial demand. Who really gives a damn at this point in time. Demand exceeds supply and that doesn't look like changing anytime soon.

We're experiencing a time of extreme financial uncertainty with subsequent volatility. Not only isolated countries but whole continants are insolvent. It is investment demand that is pushing the price up, industrial demand is an added bonus and hedge to the downside.

Don't idolise broker forecasts too highly. The same Ord Minnet you've quoted had a 3 year forecast silver price of around $24-27 just 8 months before the report you quoted: link, brokers are notoriously conservative and they don't factor in macro financial events.

There's a future in CCU regardless but at this point in time by disregarding the hedging qualities silver has in times of financial turmoil you only have half the story.