By Paul Ploumis 11 Aug 2015 Last updated at 06:21:38 GMT
(Kitco News) - Although the technical outlook and investor sentiment remain negative for precious metals, analysts at UK-based research firm Capital Economics say there may be signs of a nearby turnaround.
"What’s more, the gold market at least appears to have adjusted to the prospects of a September rate hike,” they add in a research note Monday.
While all four precious metals remain below their 50-day and 200-day moving averages, prices have recovered from the end-of-July lows, they note.
"From a technical point of view, the outlook for precious metals is showing some signs of stabilization,” they say.
Looking at silver’s strong performance relative to the other metals, resulting in the gold/silver ratio falling from 77 to about 73.5, they note that it is “heading closer to its long-term average of 62, albeit still a long way away.”
Courtesy: Kitco News