Yes, but Capitalism's economic theroy (Keynesian?) tells us that a steady or high supply coupled with a low demand results in a lower market price. In these cases the supply has probably been steady but the demand has weakened. Nevertheless the price has remained steady if not higher - in conflict with the theory.
All throughout history mankind has valued metals such as gold and silver far beyond their practical value. Blame human nature and marketing weasels that try to sell people gold as "an inflation hedge."
A rock pile ceases to be a rock pile the moment a single man contemplates it, bearing within him the image of a cathedral.
Any manufacturer of a product that needs a commodity that is sold on an exchange will not only hedge their purchases, which means that they pay what the market things the stuff will sell for several months out, but also leave a margin in their pricing so they don't have to change the price every few weeks. Airlines will allow for fuel prices for example. If silver suddenly starts selling for a couple of months at 10 bucks, then you can expect a few manufacturers to offer some special sales. If it stays that was for a year, then the prices may go down.
Charles MacDonald email@example.com
I still live just beyond the fringe in Stittsville
Also remember, the use of platinum and palladium is used as a catalyst in many important industrial process. This in itself helps support its price. They are also present in all automobiles, i.e. the catalytic converter. Its use in photographic image making is probably only a tiny fraction of the other uses.
Ilford in a Press note, if i remember, said to climb de prices a 25% in the Winter of 2011-2012, because the price of silver about 50 this is the top. Metals are a speculative value, like wall street, this is the reason i thinkm, and now the price is 19, like on 2008...