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Home / Metal News / Gold/Silver ratio remains flat around 62.5 level

Gold/Silver ratio remains flat around 62.5 level

Jul 21, 2014 16:35

Source:SMM

The gold/silver ratio, which measures how many ounces of silver it takes to buy an ounce of gold, largely remained flat this week, said Mitsubishi.

UNITED STATES July 21 2014 1:16 PM

NEW YORK (Scrap Register): The gold/silver ratio, which measures how many ounces of silver it takes to buy an ounce of gold, largely remained flat this week, said Mitsubishi.

Like gold, silver was subject to downwards pressure from a stronger dollar and upwards pressure from risk hedging last week.

As a result the gold/silver ratio remained fairly flat -- trading on either side of 62.5, a four-month low that has held throughout July.

Mitsubishi believes that there is some headroom for the silver price above $20.87 an ounce, the 38.2% Fibonacci retracement of the June-July uptrend; however the momentum indicators currently appear fairly neutral.

The physical silver investment demand remains strong, commenting that silver exchange-traded-fund holdings have increased by 4% in the year to date compared with a 4% fall in gold ETF holdings.

Mitsubishi

gold

silver

gold/silver ratio

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Gold/Silver ratio remains flat around 62.5 level

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