Commerzbank: Silver Prices Gain Ground On Gold
Silver has outperformed gold lately,points out Commerzbank. On Wednesday, silver prices climbed some 1%. “This has driven the gold/silver ratio to below 78, its lowestlevel since the end of January,” Commerzbank says. “In our view, silver’soutperformance of gold reflects the risk appetite of market participants and isconsistent with the sharp rise in base metals prices.” The gold/silver ratio measures how manyounces of silver it takes to buy an ounce of gold, with a lower ratio numberreflecting outperformance by silver, and vice-versa.
By Allen Sykoraof Kitco News; asykora@kitco.com
RBC's Gero: Comex Gold Gets Short-Covering Lift
Thursday June 7, 2018 09:09
Gold is modestly softer on short covering, says George Gero, managing director with RBC WealthManagement. This is when traders buy to offset bearish, or short, positionsthey have already taken out. As of 8:54 a.m. EDT, Comex August gold was $4.10higher to $1,305.50 an ounce. Gero notes that it’s now six days until theoutcome of the next meeting of the Federal Open Market Committee, but adds that“probablerate hikes [are] all priced in” already.
By Allen Sykoraof Kitco News; asykora@kitco.com
Commerzbank: Palladium Rises ThroughTechnical-Chart Levels
Thursday June 7, 2018 09:09
Palladium Wednesday surpassed some key technical levels,Commerzbank reports. Analysts note that palladium rose 2.5% Wednesday. “Thepalladium price broke out of its multi-week sideways trend yesterday andincreased, exceeding the technically important 200- and 100-day moving averagesand the psychologically important $1,000-per-troy-ounce mark, which is likelyto have attracted further buyers,” the bank says. Analysts note that a ThomsonReuters GFMS report shows that the palladium market is likely to show a supplydeficit of 1.3 million ounces this year.
By Allen SykoraFor Kitco News
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asykora@kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.