While the price of gold progresses record in record and the recent increase has even gained impulse, the price of silver has not even completely compensated for prices in early April, says Carsten Fritsch, commerzbank raw material analyst.
La Plata is left behind the vertiginous gold rally
“With just under $ 33 per ounce Troy, La Plata is still 4% below its maximum of 5 months at the end of March. Compared to the gain of more than 30% of gold since the beginning of the year, the 13% increase in silver is also modest. The significantly weaker price performance of silver compared to gold is also reflected in the strong increase in the gold/silver relationship.”
“This rose above 100 for the first time in almost five years in early April and reached a peak of 107 yesterday, which was not seen from the Coronavirus pandemic in May 2020. Therefore, silver is extremely cheap compared to gold. We attribute this to the strong increase in gold prices, which is currently surpassing all other raw materials and active classes.”
“If silver price performance is compared with that of crude oil, copper, US actions or American bonds, silver has a better performance. Therefore, silver performance is not so bad after all.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
