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Gold/Silver Ratio Back at 200-dma

PRECIOUS METALS
  • Spot gold drifting lower into the NY crossover, inching to new daily lows as the USD gathers pace and US yields keep pressure on the overnight highs. Spot gold now below the Wednesday lows to eye next intraday support of 2324.3.
  • Move not isolated to gold, with silver now off by 4% on the day and 7.5% off the April highs. Resultingly the gold/silver ratio is back at the 200-dma after dipping below earlier in the month.
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  • Spot gold drifting lower into the NY crossover, inching to new daily lows as the USD gathers pace and US yields keep pressure on the overnight highs. Spot gold now below the Wednesday lows to eye next intraday support of 2324.3.
  • Move not isolated to gold, with silver now off by 4% on the day and 7.5% off the April highs. Resultingly the gold/silver ratio is back at the 200-dma after dipping below earlier in the month.