Silver is a market that is not for the faint of heart. Supply and demand fundamentals rarely matter in the silver market as sentiment tends to drive the price higher or lower. While there is primary silver production, most of the annual output is a byproduct of gold, copper, lead, zinc, and other metal production. Therefore, the production cost for silver is a secondary matter, making it a challenge to evaluate the prospects for price direction based on production costs.
Silver moves with the herd, and many speculators and investors hop on board of trends