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Gold Rally Puts Ratio With Silver Closer to Multi-Year Highs

PRECIOUS METALS
  • Coinciding with the backtrack in US yields, spot gold moves to the best levels of the day, touching 2044.60. Moves shortly follow the cash equity open and volatility across NYC Bancorp shares (halted for volatility on the way lower).
  • The gold/silver ratio has printed higher highs for six consecutive sessions, nearing the highs of 92.1 posted back on Jan 22nd - which marked the highest level since September 2022 (and the bottom in silver prices at 21.93).
  • $2088.5, the Dec 28 high marks key resistance ahead - with gyrations in US yields clearly the key driver here.

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