Gold Market Wire
News, analysis and commentary for gold traders and investors
Silver Market Update
June 23, 2020 (Gold Market Wire) - While Gold takes the glory, Silver is starting to struggle. For what is almost a year now, rallies above the (roughly) $18.43 level have been turned away. The "mid-18s" just aren't sustainable. It seems little different presently, as the chart tells the story:
At the heart of Silver's worries is, of course, the Gold/Silver ratio, which has been a fair whether friend as of late. Yes, we've come a long way in the past few months, but June has been the cruelest month.
Surely, " 'tis but a scratch", but those wounds can become problematic, as Mercutio found out. Silver did a lot to push the last move up in Gold. Now Gold will have to take charge and hopefully get the ratio moving again. It would be better to see them moving in tandem with the 'diff' narrowing. And as much as Silver is an adjunct brother of the Gold world, Gold still needs Silver to command its lofty hights. Food for thought, prior to declaring Gold's imminent rise to $2,000.
Work needs to be done.