Show Silver Silver prices moved off during 1971 contrary to many and by early November the price had fallen to cents troy the lowest level since The drop in quotes occurred in spile of the fact that silver sales by the General Services Administration were ended on November ACCORDING to Handy and Harman's annual review of the silver industrial consumption of the precious metal in the U.S. last year moved off about four percent from the revised 1970 The losses were brazing and The photography business still ranked first in silver consumption but accounted for only 35 million ounces last year or 28 percent of the 38 million ounces or 29 percent in The electrical and electronic category ranked accounting for 33 million ounces or 26 percent of the 1971 total as against 32 million ounces or 24 percent of the total in World consumption of silver industrial and coinage dipped less than 1 percent last year from the 1970 NEW production of silver last year Communist-dominated receded to million ounces from million the previous the production-consumption gap in 1971 amounted to This gap was filled from other sources of including demonetized reduction of speculative holdings and silver from India and and salvage and miscellaneous Handy and Harman estimated thai total silver and bullion holdings by speculators and investors on December 1971 amounted to million a decline of about 60 million ounces from levels of the previous AFTER reaching a yearly low of cents in November of last prices in the N. market displayed a firming trend toward year end which carried over into the early part of The rebound occurred just the metal reflect Hon and permit W than tt Per-ounce The mem of feels that th ver tr higher durin in monetary Je be WHILE iii r silver 1 as the t be enough's on the outlook is Aside u consideration erm will consumption J there arc substitution silver prices considerably h point over the Once definitely some a withheld rm in toward still t feed on well above pre At this Reports RW merit of Mb stock for inva in silver Hed ing domestic ducer and ran about half of na lathis |