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Silver continues to outperform......>

PRECIOUS METALS: Silver continues to outperform gold in recent trade, with spot
silver adding just shy of 5% today while gold posts more minor gains of 0.9%.
The gold/silver ratio now sits at the lowest levels since mid-2019, despite gold
again today hitting multiyear highs and the best levels since 2011's all-time
high of 1,921.17.
- Precious metals continue to rally sharply as prices track COVID case counts
globally, but more specifically the US and Latin America, as well as reflaring
of outbreaks in Hong Kong and Australia.
- Broad USD weakness is also playing a part, with gold in EUR terms still not at
the year's best levels, although the same can't be said for silver, with EUR
silver today hitting EUR 20/oz, the highest since early 2013.
- MNI Tech eyes first gold resistance at $1869.10 and $1879.90 (projections of
the recent rally) and resistance for silver at $23.09 (Oct 2013 high) and $23.24
(rally projection).
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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