The markets in general, are still extremely short on silver and gold, despite today’s rally in gold prices, said Peter Hug, director of global trading at Kitco Metals.
“It’s not going to take a lot from a catalyst perspective to create a short-covering rally,” Hug told Kitco News.
On the gold-silver ratio hitting 85, a 25-year high, Hug noted that silver is getting hit from both a general weakness in gold, but also global slowdown in industrial demand.
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