Trading starts at $36.39 later this morning. (Kitco chart via Urban Survival.)
Wow wow wow..
PRECIOUS METALS - European Opening View - Strong start for metals as silver clears $36/oz
The PGMs remain on the back burner this morning as gold and silver continue to dominate, opening higher in Asia with gold currently up 0.5% and silver a further 2.3% touching a fresh 31-year peak of $36.51 a short while ago, leading the AU/AG ratio below 40:1 for the first time in 13-years. The new highs in silver could prompt some profit taking later in the day but with the situation in the MENA region still extremely volatile and oil continuing rise both gold & silver are likely to extend on a mix of safe-haven and anti-inflationary hedging with silver set to challenge $38-40/oz but ultimately the all-time record of $50/oz.
Wow wow wow..
PRECIOUS METALS - European Opening View - Strong start for metals as silver clears $36/oz
The PGMs remain on the back burner this morning as gold and silver continue to dominate, opening higher in Asia with gold currently up 0.5% and silver a further 2.3% touching a fresh 31-year peak of $36.51 a short while ago, leading the AU/AG ratio below 40:1 for the first time in 13-years. The new highs in silver could prompt some profit taking later in the day but with the situation in the MENA region still extremely volatile and oil continuing rise both gold & silver are likely to extend on a mix of safe-haven and anti-inflationary hedging with silver set to challenge $38-40/oz but ultimately the all-time record of $50/oz.
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