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).