Gold/Silver ratio remains flat around 62.5 level-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Futures movement
  • MMi Iron Ore Port Index
  • Copper scrap
  • Nickel
  • Copper
  • Evening comments
  • Aluminium
  • Macroeconomics
  • Production data
  • Inventory data
  • Tin
  • Stainless steel
  • Market commentary
  • inventory

Gold/Silver ratio remains flat around 62.5 level

Industry News 04:35:52PM Jul 21, 2014 Source:SMM
 
 
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.
 
Key Words:  Mitsubishi   gold   silver   gold/silver ratio 

Gold/Silver ratio remains flat around 62.5 level

Industry News 04:35:52PM Jul 21, 2014 Source:SMM
 
 
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.
 
Key Words:  Mitsubishi   gold   silver   gold/silver ratio