Silver bullion has so much more to give according to Bloomberg today in an interesting article replete with 5 must see silver charts.
From Bloomberg:
Silver’s bull run looks like it has legs.
The metal with the best return this year of any in the Bloomberg Commodity Index is poised for more gains, investors, traders and market data suggest.
“Silver has the best-looking chart among all the commodities,” said Andy Pfaff, who as chief investment officer for commodities at MitonOptimal Group in Cape Town increased his allocation to the metal over the past two weeks. “When silver moves, it really, really moves, and everyone wants to be on the right side of that trade.”
The metal is up more than 11 percent in the last two weeks after underperforming gold in the first quarter on concerns slow Chinese growth would curb demand in the biggest consumer of commodities. While both are precious metals, silver has more uses in manufacturing. Silver traded at $16.909 an ounce on Wednesday.
Following are charts that suggest the possibility of further gains.
The ratio of gold to silver prices fell to the lowest level since October on Wednesday after peaking in February at the highest since 2008. It will likely fall further, according to dealers such as brokerage GoldCore Ltd. in Dublin as reported by Bloomberg.
Read full Bloomberg article and see 5 charts here
Gold Prices (LBMA)
20 April: USD 1,247.75, EUR 1,098.09 and GBP 867.45 per ounce
19 April: USD 1,241.70, EUR 1,095.18 and GBP 867.01 per ounce
18 April: USD 1,237.70, EUR 1,095.02 and GBP 872.45 per ounce
15 April: USD 1,229.75, EUR 1,092.16 and GBP 867.46 per ounce
14 April: USD 1,240.30, EUR 1,101.04 and GBP 874.96 per ounce
Silver Prices (LBMA)
20 April: USD 16.62, EUR 14.67 and GBP 11.57 per ounce (Not updated)
19 April: USD 16.62, EUR 14.67 and GBP 11.57 per ounce
18 April: USD 16.20, EUR 14.33 and GBP 11.41 per ounce
15 April: USD 16.17, EUR 14.33 and GBP 11.40 per ounce
14 April: USD 16.13, EUR 14.32 and GBP 11.39 per ounce
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