UNITED STATES April 11 2017 11:04 AM
NEW YORK (Scrap Register): Citi Research described the gold-silver ratio as elevated even though it has narrowed since the start of the year. This ratio currently is pushing 70, compared to roughly 72 as of the end of 2016.
The ratio measures how many ounces of silver can be bought with an ounce of gold, with a higher number reflecting gold outperformance, and vice-versa.
“The gold-silver ratio looks elevated above ~69x versus the LT (long-term) mean of ~60x,” Citi added.
Still, at least in the short term, the bank cautions that silver could be due for a correction based on its Relative Strength Index reading.