Silver Outshining Gold? Is Metal Signaling a Global Economic Turnaround
One ounce of gold buys the least ounces of silver this year, and given the industrial component to silver's price, could this be signaling a turnaround in the global economy? The best performing precious metal for the week was silver, up 5.66 percent, says Frank Holmes, CEO of U.S. Global Investors. ‘Silver has overtaken gold as the year’s best performing precious metal, extending its gains to 17 percent on the back of a stabilizing Chinese economy. The precious metal, which is used in a variety of industrial products, is now trading at a five-month high,’ he said in an interview with Kitco News. The gold/silver ratio is now at levels last seen in December 2015 - sitting at around 76 – it shows silver is catching up to gold, Holmes explained. More than 50 precent of global demand for silver comes from industry. During the week to April 12, Comex June gold rose $24.50, or 2%, to $1,257.40 an ounce. May silver climbed $1.075, or 7.1%, to $16.215. As of 10:21 a.m. EDT on Monday, however, June gold had fallen back to $1,235.80, although May silver had made further gains to $16.245. (show less)
One ounce of gold buys the least ounces of silver this year, and given the industrial component to silver's price, could this be signaling a turnaround in the global economy? The best performing precious metal for the week was silver, up 5.66 percent, says Frank Holmes, CEO of U.S. Global Investors. ‘Silver has overtaken gold as the year’s best performing precious metal, extending its gains to 17 percent on the back of a stabilizing Chinese economy. The precious ... (read more)
Gold Game Film
Gold Game Film features the founder of US Global Investors, Frank Holmes as he highlights play-by-play action in the gold market. Melding sports and precious metals, Holmes comments on gold’s touchdown pass of the week. Holmes also reflects on the opportunities and threats he sees for the gold market. Tune in every week to hear from our Monday Morning Quarterback, Frank Holmes.Disclaimer: The content on this website, including, without limitation, news, videos, interviews and commentaries, is provided by Kitco Metals Inc. ("Kitco") for informational purposes only and is not intended as any form of advice, whether legal, accounting, investment, financial or tax advice. Therefore, it cannot be relied upon as such. Should you require such advice, contact a licensed professional. The content provided herein is provided on an "as is" basis without any warranty of any kind, whether express or implied and your use of the information provided in said content is entirely at your own risk. In no event will Kitco be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content on this website.
