will rebuilding Japan call for more silver?

[packerbacker]

Saw this statement in a Wall Street page:
Silver prices also joined in the relief rally, settling up 36 cents to $34.47 an ounce. Silver fell nearly 5% Tuesday but still held above the $33.50 level. Silver is appealing to investors not only for its safe haven status but also for its use as an industrial metal, which will be pivotal in rebuilding Japan

 

[blkcwbyhat]

I wouldn't hold my breath...Copper,silver,and to a small degree,gold,are used in the electronics.If the industry there is wiped out for the short term,they won't need it.They will have plenty of scrap copper as they clean up,and no need for silver or gold til the business is back up and running. I think the prices will go down as the demand is reduced,until after the clean up.

 

[packerbacker]

Thing is, this isn't New Orleans or Haiti, it's Japan. They aren't going to just sit around and wait for the government to do everything for them, it won't take them too long to get moving. Only big problem will be if a large area gets covered with radioactivity that registers too high for people.

 

[Irish Finn]

Start saving your 82' and older pennies. They will need steel & copper to rebuild

 

[jim4silver]

In the long run yes, but will that affect the silver price positively now, no in my opinion.

You need to watch the stock market right now. If it continues to dip so will silver. The hedge funds and big speculators will sell their profitable positions (PMs) as their stocks drop. If the stock market keeps falling it will bring about a decent correction in both gold and silver, but mostly in silver since its run up has been much greater than gold. Should be interesting to see how it all unfolds in the near future. Glad I never got into platinum and palladium. They have been getting hit pretty hard lately.

All just my opinion.

Jim