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Is Silver Due to Shine? This One Clue Says Yes - Expert
Silver has been lagging behind gold in terms of growth in the last year, but one analyst said that now may be a good time to buy into silver.
According to Phil Streible, senior market strategist at RJO Futures, a gold-silver ratio above 80 signals a strong buy for silver. The gold-silver ratio was last at 80.43 at the end of Thursday’s session.
“Silver has been lagging behind gold for quite a while now,” Streible told Kitco News, “and I think that silver is due for its movement upwards, I wouldn’t be surprised to see one of these 30 to 50-cent moves to the upside here.”
Recent spikes in equities volatility could further prompt traders to rush into one of the metals, Streible said.
“Some people may be a little bit more comfortable with gold and will go into that, but I think the real opportunity lies with silver,” he said. (show less)
Silver has been lagging behind gold in terms of growth in the last year, but one analyst said that now may be a good time to buy into silver.
According to Phil Streible, senior market strategist at RJO Futures, a gold-silver ratio above 80 signals a strong buy for silver. The gold-silver ratio was last at 80.43 at the end of Thursday’s session.
“Silver has been lagging behind gold for quite a while now,” Streible told Kitco News, “and I think that silver is ... (read more)
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