Silver is now up almost 10% from its spike lows last week (up over 5% since Friday), has broken above $16, snapped 2016’s highs at $16.17 and is back at its highest since October 2015. Amid the big tumble in commercial hedgers positions, we also note the Gold/Silver ratio has plunged to 2-month lows – just as we suggested.
Silver breaks 2016 highs…
To October levels…
As hedgers unwind…
A month ago we said, So bottom line, if you’re a speculator in precious metals, now may be a good time to consider trading in some gold for silver.
And since then,Silver is up 4.6% and gold unch…
Leaving the Gold/Silver ratio at 2-month lows…
via Zero Hedge http://ift.tt/1qMZ3Nx Tyler Durden