flower-shilling

SD Bullion Weekly Update

Silver Breaks Out Over Gold, LBMA $45 oz by Next Year?



The spot silver and gold markets both ran higher this week.

The spot silver price closed over $33.71 oz bid and such strength suggests there will be more to come.

The spot gold price finished the week priced over $2,721 oz bid.

The spot gold-silver ratio plunged on relative silver strength over gold today, marked down to a still historically high level of 80.

That is going to be all for this week's SD Bullion Market Update.
 
All Roads Lead to Inflation | Silver Outperforming Gold Soon

So that happened this week to US Treasury head Janet Yellen.

A quick snippet from my interview two days ago, last Wednesday, Oct 23rd, with Dale Pinkert of FOREX Analytix.

Full link in show notes below and on my Twitter X feed @JamesHenryAnd

James Anderson is looking for the spot Gold Silver Ratio to trade in the 60s this run. ForexAnalytix interview from Wed., Oct 23, 2024 • FACE Interview OCT 23rd 2024. James l...

The spot and silver and gold markets were a mixed bag this week, with silver nominal price levels not seen since late 2012.

The spot silver price closed just under $34 oz, and the spot gold price closed at a still strong just under $2,750 oz bid.

The spot gold-silver ratio did break 80 intra-week, and revisiting this silver run towards the lower 70s, even into the 60s, is possible not very long from now.

Gold and silver are still relatively cheap.

That will be all for this week's SD Bullion Market Update.

 
Lots of interesting gold-related reports mainly focused in and out of London to India this week. Repatriating 102 metric tons of her gold bullion reserves from London recently. India is also beginning to flex its growing silver market muscles as well.

This week, the silver and gold spot price markets in fiat US dollar terms were a mixed bag.

The spot silver price closed weakly, retesting to around the $ 32.50 oz mark to finish the week.

The spot gold price pulled back today after hitting another record nominal price high yesterday to close just under $ 2,750 oz ask.

The spot gold-silver ratio popped on gold's relative strength over silver to end the week, ballooning upwards to 84.

That will be all for our weekly SD Bullion Market Update.


 
Back
Top