UNITED STATES November 19 2014 1:15 PM
NEW YORK (Scrap Register): Silver has been the worst performing major metal for two years running, said ETF Securities.
ETF Securities estimates the marginal cost of production for silver near $15.5 an ounce and most analysts estimate the all-in cost of production near $20 an ounce.
The low futures price from the week before last was $15 an ounce on the COMEX which was the lowest since 2010.
Despite strong investment demand, notably in coins and ETF’s, silver has suffered along with many other industrial commodities like crude oil and copper.
Often called the “devils metal” for its extreme volatility , silver appears more likely to quickly revisit $20 an ounce rather than continue a potential slower pace decline to wards $10 an ounce.