Created
: 2024.10.22
2024.10.22 20:01
For some time, Silver lagged behind the rise in the price of Gold, Commerzbank's commodity analyst Carsten Fritsch notes.
"This was evident from the increase in the Gold/Silver ratio to almost 90 in August and September. Thereafter, the price ratio fluctuated at around 85 for more than a month. Silver thus managed to track the price movements in Gold. It seems that investors now view Silver as a cheaper alternative to Gold, which would not be surprising given that Gold prices continue to rise and reach new record levels."
"On Friday, the Silver price rose by more than 6%. The rise continued at the beginning of the week. At just over $34 per troy ounce, Silver is as expensive as it hasn't been in almost 12 years. The Gold/Silver ratio subsequently fell to 80, the lowest level since mid-July. This means that the price ratio is also lower than at the beginning of the year, so Silver has risen more than Gold this year."
"It is not unusual for Silver to track Gold's price movements disproportionately. A rise of more than 40% from current levels would mark the strongest annual increase since 2020, but would remain well below the 80% rise of 2010."
Created
: 2024.10.22
Last updated
: 2024.10.22
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy