Heck Yeah $18.50 is doable.
that's 1 1/2% down from this morning's low around $18.80. not a big deal.
Silver is currently one of the lowest priced commodities, relative to other commodities. It was tracking lower with copper, but gave up that correlation when Copper climbed back into the $3's and silver retreated to the $19's.
I wonder how much of production costs are in the $21 range, the $15 range, the $9 range. I have seen all sorts of numbers reading mining articles.
I think a big part of the games we have seen since the price action of April 12/ 15 2013, is (in addition to being an expression of the Strong Dollar policy and all the currency manipulation teams & games assoc. with it), is to twist the arms of the miners to hedge their production.
If they hedge at $20 per ounce, the profits from any price rises will accrue to the bullion bank that sold them the contract - or whoever they re-sold the hedge contract to.