THE silver price has risen 8% in the last month and increased more than 14% in the last six weeks as it hovers close to a two-and-a-half year high of 20 an ounce.
By comparison, while the silver price has moved 18% since the beginning of the year, gold has gained 14%.
According to analysts, the gold- silver ratio right now is telling traders to buy silver.
Silver fixed at 19.97 in London on Friday afternoon after pushing through the key 20 an ounce level on Thursday while gold was fixed at 1245.75 an ounce. At these prices an ounce of gold can purchase 62 ounces of silver.
“The fundamentals for silver are looking better every month, and as investors continue to diversify ... silver will become a major beneficiary of this trend,” Lakeshore Trading precious metals analyst David Levenstein said. — BusinessLive
