the texas hedge report current issue september 2004 gold will rise but silver may skyrocket todd stein & steven mcintyre 27 courtesy of www texashedge com we think that is a once in lifetime opportunity to participate meteoric dramatically undervalued commodity real story on massive inventory depletion has taken place over last decade as depicted graph below since 1991 above ground supply declined from about 1 4 billion ounces an estimated 600 million 130 which legendary investor warren buffett or not still own his 1998 purchase deficits now run between 50 100 per annum and possibly much more roughly 500 are owned by investors like who have no intention sell anytime soon all likelihood less than 350 available fill at anywhere near prices running critically low reserves it entirely possible some time next few years shortages
