Silver Soars To 10-Month Highs, Gold-Ratio Continues To Plunge
By Tyler Durden
It appears a combination of Rosengren's comments (panic-jawboning about rates raises policy error fears), positioning unwinds (commercial hedgers covering), and gold/silver ratio compression has sparked a surge in both silver (10-month highs) and gold (back above 50dma) overnight.
The overnight spike…
Smashing Silver to 10-month highs..
UBS analyst Joni Teves tells The Financial Times:
“It's a combination of silver getting a bit of attention over the past week with the big move in the gold/silver ratio and quite a few market participants looking at silver in and its relative performance to gold and thinking it might be time for a bit of catch up.”
As the ratio drops to 5-month lows…
Even as Gold lifts back above its 50dma…
Source: Silver Soars To 10-Month Highs, Gold-Ratio Continues To Plunge
