@DocBenjamin said:
Silver is neither cheap nor expensive at $30.
Expect to see $50 by year end though as trillions of free dollars search for a home.
I'll be back to gloat.
The gutter is very expensive at these levels. Nobody even wants the crap. Current mining is a byproduct of copper extraction. You should be hoarding the copper in your bunker, not the gutter. LOL! RGDS!!
Prediction was made on the futility of the Dollar rather than the utility of the metal.
Note that a Tesla Model S battery contains 60 kilograms (60,000 grams) of lithium.
All those EVs out there and yet the price if lithium is lower than 5 years ago.
Global X Lithium & Battery Tech ETF (LIT) is 161% higher than it was five years ago ($37.51 vs 23.61)
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
So I think the image you posted has flubbed the numbers for Platinum and Palladium (and also silver).
Your image states silver at 0.0075 ppm and gold at 0.0040 ppm, which would make silver less than twice the abundance of gold (but the abundance of silver in Earth's crust is actually 0.075 ppm which is 18.75 particles of silver for every particle of gold).
A lot of the variance depends on the source selection of what depth of "crust" is used. The crust thickness varies dramatically. Compared with atoms of silicon, Pt is less abundant than gold. It certainly is much scarcer than gold in terms of what can be mined economically. There are also 20 million tons of gold in the oceans. Most of these abundance figures are "order of magnitude" level estimates.
The crust of Earth is of two distinct types:
Continental: 30 - 50 km (20 - 30 mi) thick and mostly composed of less dense, more felsic rocks, such as granite. In a few places, such as the Tibetan Plateau, the Altiplano, and the eastern Baltic Shield, the continental crust is thicker (50 - 80 km (30 - 50 mi)).
Oceanic: 5 - 10 km (3 - 6 mi) thick and composed primarily of denser, more mafic rocks, such as basalt, diabase, and gabbro.
The average thickness of the crust is about 15 - 20 km (9 - 12 mi).
Because both the continental and oceanic crust are less dense than the mantle below, both types of crust "float" on the mantle.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Comments
Lithium is 20.0 ppm (parts per million) in the Earth's crust.
Silver is 0.075 ppm. Gold is 0.004 ppm.
So lithium is 267 times as abundant as silver and 5,000 times as abundant as gold.
Prediction was made on the futility of the Dollar rather than the utility of the metal.
Global X Lithium & Battery Tech ETF (LIT) is 161% higher than it was five years ago ($37.51 vs 23.61)
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
And platinum is more rare.tham gold. Great.
In 2019 there were about 2.2 million EV cars sold. In 2024 there will be more.than 10 million. Lithium price is lower than in 2019 with more demand.
Price of lithium is lower today even with increased demand and usage.
Knowledge is the enemy of fear
PMers hitched their horse to the wrong wagon?
Knowledge is the enemy of fear
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5 years ago lithium mining and production industries were not fully mature.
Gold mining and production is beyond mature at this point.
PS:
You are mistaken - platinum in the Earth's crust is NOT rarer than gold (.005 ppm for platinum, .004 ppm for gold):
https://sciencenotes.org/abundance-of-elements-in-earths-crust-periodic-table-and-list/
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Every car on planet earth can and will become a EV. Gutter will still be in the gutter. RGDS!
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I suspect that you will be technically correct when you crash your electric car into the gutter.
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Knowledge is the enemy of fear
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The figures in that image for Platinum and Palladium do not agree with the figures from the page I linked previously, or Wikipedia:
https://en.wikipedia.org/wiki/Abundance_of_elements_in_Earth%27s_crust
These web sites also list gold as slightly scarcer than platinum:
https://geo.libretexts.org/Bookshelves/Geology/Fundamentals_of_Geology_(Schulte)/02%3A_Rock_Forming_Minerals/2.08%3A_Abundance_of_Elements_in_Earth's_Crust
https://periodictable.chemicalaid.com/charts.php/abundance-earth-crust?lang=en
So I think the image you posted has flubbed the numbers for Platinum and Palladium (and also silver).
Your image states silver at 0.0075 ppm and gold at 0.0040 ppm, which would make silver less than twice the abundance of gold (but the abundance of silver in Earth's crust is actually 0.075 ppm which is 18.75 particles of silver for every particle of gold).
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A lot of the variance depends on the source selection of what depth of "crust" is used. The crust thickness varies dramatically. Compared with atoms of silicon, Pt is less abundant than gold. It certainly is much scarcer than gold in terms of what can be mined economically. There are also 20 million tons of gold in the oceans. Most of these abundance figures are "order of magnitude" level estimates.
The crust of Earth is of two distinct types:
Continental: 30 - 50 km (20 - 30 mi) thick and mostly composed of less dense, more felsic rocks, such as granite. In a few places, such as the Tibetan Plateau, the Altiplano, and the eastern Baltic Shield, the continental crust is thicker (50 - 80 km (30 - 50 mi)).
Oceanic: 5 - 10 km (3 - 6 mi) thick and composed primarily of denser, more mafic rocks, such as basalt, diabase, and gabbro.
The average thickness of the crust is about 15 - 20 km (9 - 12 mi).
Because both the continental and oceanic crust are less dense than the mantle below, both types of crust "float" on the mantle.
My US Mint Commemorative Medal Set
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Kinda like that old song. “Short people got no reason …..”
I was thinking more like groundhog day. Gutter is the gift that keeps on not giving. LOL THKS!
I'm selling some gold, might buy some more silver tomorrow at 85:1
I knew it would happen.
A fool and his money are soon parted. THKS!
My gold has done well. Portfolio rebalancing.
And it will be real silver, not the paper garbage.
I knew it would happen.