Gold/Silver ratio accurate
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
For now, the gold/silver ratio indicates that the metals are in for further consolidation before a move over $2,000 in gold can occur.
It remains to be seen whether a range will form between $1,950 and $1,975. Should $1,950 - $1,960 become resistance, a move lower to $1,915 in the medium term would not surprise. Encouragingly, however, silver bounced hard off support at $24.90 overnight.
US equity index futures are following through on yesterday’s intraday gains this morning. The contrarian trade continues to be on the long side of the equity space, in this trader’s opinion. With a slew of perceivably stock market negative catalysts still hanging overhead, traders may want to consider the asymmetrical risk/reward profile in favor of a move higher, should any of the ongoing factors currently driving fear show a path to resolution.
Thanks and have a great day,