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Look at your dates for this statement. He later became a HUGE silver investor. Market realities change; ditto for informed opinions and sentiment. The best are quick to change beliefs quickly in the face of new realities.
Buffett is one such.
UNDERSTANDING BUFFETT'S SILVER PLAY
http://www.gold-eagle.com/gold_diges...use020998.html
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Silver is a key input to film. When silver prices went up it really hit companies like Kodak hard. Silver has utility which creates tangible value. Other than jewelry I don't think much is made with gold, though I may be wrong.
If that's what your link said, I'm sorry for being repetative.
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Gold is actually used in a lot of electronics, fwiw.
-bb.
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How much is actually used? Are you talking about things like the end of headphones where it's (I would assume) extremely small amounts? I would guess, and this is definitely a
guess, that silver prices are driven much more by tangible forces than gold prices.
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I have no idea one way or another whether silver or gold is driven more by investment. However gold is definitely used extensively in electronics as it is an excellent conductor and is very resistant to corosion; the more high-end the device, the more that is used (see: the space shuttle). I was just bored enough this morning while running a couple of free (partypoints) tournaments this morning to do a (very) little bit of research on the web about this, and I found one site that may or may not be accurate, but which seemed the best resource vs. the others I found in this basic check...
For more on the industrial uses of gold:
http://www.gold.org/discover/knowled...ses/index.html
A breakdown for consumption:
http://www.gold.org/value/stats/stat...and/index.html
Which, if it is accurate (and my calculations are correct), shows industrial use at around 12%, use for jewelry at about 78%, and investment use at about 10%.
If you do the same kind of research for silver, we can find out the answer to the "which is driven more by investment" question.
If not, I'll live. [img]/images/graemlins/smile.gif[/img] These freebie tournaments are just really boring...I started them to do in the background while I was working on something else, but then I finished the other stuff I was working on and was left staring at 2 tourneys that even if I win I don't care... [img]/images/graemlins/tongue.gif[/img]
-bb.