UNITED STATES April 20 2016 11:14 PM
NEW YORK (Scrap Register): Silver is continuing its recent outperformance over gold, said analysts at Commerzbank.
Silver outpaced gold on Tuesday and is slightly higher in early-Wednesday dealings while gold has eased modestly.
“Silver is currently much stronger than gold,” said Commerzbank. Analysts later added, “The gold-silver ratio has dropped to below 74, its lowest level since early November.
It was still over 80 at the beginning of last week. Unlike gold, silver saw further inflows into its ETFs (exchange-traded funds). The iShares Silver Trust, the world’s largest silver ETF, reported inflows of 44.4 tons. By contrast, gold ETFs posted an outflow of 8.5 tons Tuesday, the bank noted.
As of 8:06 a.m. EDT, Comex May silver was 7.8 cents higher to $17.05 an ounce, while June gold was down $5.30 to $1,249.