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Tuesday, January 31, 2012

Boom time for Gold & Silver Miners

Boom time for Gold & Silver Miners .In recent years, increasing demand for mineral resources has pushed mining companies to go farther and deeper in search of new deposits.According to TrustedBullion, Mines in the United States produced 38,580,840 Oz in 2007 & 9,028,036 Silver Eagles were coined that year. Were those consumed? In 2009, 30,459,000 Eagles were coined. That's almost all of the output if production stayed the same as 2007. I suspect Silver Eagles are not the type of silver that gets consumed. The coining cost would be prohibitive. Entry levels mine jobs can pay up to 50K dollars a year even for someone right out of high school , They say the days when you could go from high school to a high--paying, blue--collar job are long gone. But there are places in the Northwest where those days still exist — that's if you're willing to work a mile underground. For gold and silver miners, it looks like boom times right now — rising salaries, more job opportunities. Even a recent lay off in north Idaho doesn't look like other lay offs. Jessica Robinson has this story that has seen the reverse side of the economic downturn. they can manipulate the price of gold and silver, but only for the short term. Eventually, the market will recognize the supply shortage and higher investment demand for both metal and revalue them higher.

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