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Gold/Silver Ratio Reverts to Multi-Month High

PRECIOUS METALS
  • Spot gold coming under the weight of the further rally in the USD, printing a new daily low in the process. A lower close today would be the fourth consecutive session of losses - the longest losing streak since late September.
  • The latest slide puts prices below the 38.2% retracement for the December upleg and opens 2030.83 on any further weakness. The 50-dma sits further out at 2008.16, which last supported prices through the December Fed decision on Dec13.
  • While gold is weak, silver is weaker - helping boost the gold/silver ratio above 88.0 and a close at current levels would be the highest since March last year.

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