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Commerzbank: Silver Prices Gain Ground On Gold

Kitco News

Silver has outperformed gold lately, points out Commerzbank. On Wednesday, silver prices climbed some 1%. “This has driven the gold/silver ratio to below 78, its lowest level since the end of January,” Commerzbank says. “In our view, silver’s outperformance of gold reflects the risk appetite of market participants and is consistent with the sharp rise in base metals prices.” The gold/silver ratio measures how many ounces of silver it takes to buy an ounce of gold, with a lower ratio number reflecting outperformance by silver, and vice-versa.

By Allen Sykora of Kitco News; asykora@kitco.com

 

RBC's Gero: Comex Gold Gets Short-Covering Lift

Thursday June 7, 2018 09:09

Gold is modestly softer on short covering, says George Gero, managing director with RBC Wealth Management. This is when traders buy to offset bearish, or short, positions they have already taken out. As of 8:54 a.m. EDT, Comex August gold was $4.10 higher to $1,305.50 an ounce. Gero notes that it’s now six days until the outcome of the next meeting of the Federal Open Market Committee, but adds that “probable rate hikes [are] all priced in” already.

By Allen Sykora of Kitco News; asykora@kitco.com

 

Commerzbank: Palladium Rises Through Technical-Chart Levels

Thursday June 7, 2018 09:09

Palladium Wednesday surpassed some key technical levels, Commerzbank reports. Analysts note that palladium rose 2.5% Wednesday. “The palladium price broke out of its multi-week sideways trend yesterday and increased, exceeding the technically important 200- and 100-day moving averages and the psychologically important $1,000-per-troy-ounce mark, which is likely to have attracted further buyers,” the bank says. Analysts note that a Thomson Reuters GFMS report shows that the palladium market is likely to show a supply deficit of 1.3 million ounces this year.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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