Big Decline in World’s Largest Silver Producer
The world’s largest silver producer (KGHM Polska Miedz) has just reported a 17% drop in mine production for the first half 2013 and a 50% drop in profit. This of course whilst we’ve seen the well documented massive demand for physical silver over the same period on an already tight opening supply. We discussed yesterday (and today posted an excellent article on our site) the price take-down on Friday which affected silver as much as gold. Whilst the market is manipulated to the extent it is, putting further pressure on producers, the supply / demand equation looks more and more compelling for investors who can now buy at these artificially low prices.