Tuesday, October 2, 2018

While gold wakes up this morning to move back above $1200, silver is the real winner with a nearly 3% move at the open

Ever since the Fed announced they were raising interest rates last week, gold in particular has been paying the price of investor speculation which at one point brought the metal down to $1185 per ounce.  But all of a sudden at the market open here on Oct. 2, the gold has regained the $1200 handle on what appears to be no real news.


Yet while the gold price has climbed nearly $15 in morning trading, the real winner appears to be silver which is up nearly 3% and closing in on regaining the $15 price handle.


In addition, silver's strength in relation to gold has lowered the gold/silver ratio back down to 81 from its recent 20 year high of 85.


As more talk of recession hits the global markets, and nation's like Poland start programs to accumulate precious metals in their central bank reserves, one wonders if this will become a growing trend among these institutions and help end the year long suppression of metal prices.

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