gfms silver market trends and developments 1 philip klapwijk 2004 international zinc conferences phoenix arizona 24phoenix 24 th february qprices qdemand qsupply qinvestment speculation qconclusion 3 4 5 6 7 8 jan 98 99 00 01 02 03 04 us oz the price london 2003 average 88 up y o ytd 35 34 year to date feb 20th jul euro dollar prices 31 down 11 monthly 9 gold versus 80 90 100 110 120 130 140 150 j f m a s n d
