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Gold/Silver Ratio Hits Lower Low for Ninth Consecutive Session

PRECIOUS METALS
  • Gold also benefiting from the early USD weakness, putting spot within range of support at the week's high of $1975.3. Early activity has put futures volumes well ahead of average for this time of day, and further upside would next open $1980.9, the 61.8% retracement for the pullback off the $2009.7 cycle high.
  • While gold is firmer, silver continues to outperform: the gold/silver ratio has printed a lower low for a ninth consecutive session and has now fully erased the late Feb - March rally.

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