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
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
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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