Silver breaks higher.
Silver smashed through key technical resistance on Friday with scenario analysis suggesting there's plenty of upside.
A remarkable rally in silver…
On Friday, silver staged a remarkable rally, surging to USD 56.71/oz (+6.1% d/d). The rally in silver brings its gains in November to 16.6%, compared with 6.7% for platinum and 5.7% for gold, with the metal nearly doubling (96.4%) in twelve-months.
…sent the Mint Ratio sharply lower...
The rally in silver has far-surpassed that of gold, sending the Mint Ratio - the ratio of gold-to-silver - down to 74.6:1. At the start of the year, the Mint Ratio was 90.9:1 and it climbed briefly to a high of 104:1 during the peak of the Liberation Day market sell-off. The plunge in the Mint Ratio brings it within range of its post-millennium average (69:1) but well off its trough (31.7:1) achieved in April 2011.
The following content is for paid subscribers only.
If you would like to read this article, you can, for just US$ 15 for a one-month subscription, or US$ 150 p.a. That works out at just US$ 1.45 per article.
