The Depletion of the Silver Inventory

There are 500 million or so ounces being produced of silver annually, although there will be more coming on in the next couple of years. Most of that silver is produced as a byproduct in the mining of gold or copper and lead sink. There's been a gap in recent years of perhaps 150 million ounces, but none of these figures are precise. The bullion inventory has been depleted significantly, which means that the present price for silver does not produce an equilibrium between supply and usage.