| Gold Prices , Monday, Aug. 19th,2019
Bid/Ask |
1501.70 / 1502.70 | |
| Low/High | 1492.50 / 1510.20 | |
| Change | -11.10 | -0.73% |
| 30daychg | +76.70 | +5.38% |
| 1yearchg | +317.10 | +26.77% |
| Silver | 16.96 | -0.12 |
| Platinum | 855.00 | +7.00 |
| Palladium | 1461.00 | +31.00 |
| Rhodium | 3670.00 | -20.00 |
Guest(s): Phillip Streible Senior Market Strategist, RJO Futures says,
“Silver has quite a bit of upside potential left, and once the gold-silver ratio breaks below the 200-day moving average, it could be “game on” for silver prices”, this according to Phil Streible, Senior Market Strategist of RJO Futures.
“I think a $20 year-end target on silver or $1,600 on gold is completely not out of the question, especially the way things are going. We do need to resolve some of the trade agreements with U.S. and China because of the fact that a lot of the products that they import are silver-related,” Streible told Kitco News.
“I think a $20 year-end target on silver or $1,600 on gold is completely not out of the question, especially the way things are going. We do need to resolve some of the trade agreements with U.S. and China because of the fact that a lot of the products that they import are silver-related,” Streible told Kitco News.
The Silver / Gold ratio at over 95 : 1 has has been languishing behind gold for most of the last (10) years, “this ratio belongs below (60). As a rule of the precious metals markets , silver has traded between 50-60 : 1 behind gold, not this crazy 90 + ratio to gold we’ve seen these last 7-10 years” comments Jack Dempsey, President of 401 Gold Consultants LLC in Austin TX. , “ when this global business economy demands silver , not just the retail investor, we will see silver take off compared to gold “ added Dempsey.
Keep in mind that right now in Hong Kong, “ the demand for physical silver is outpacing supply, the U.S. Mint is at full capacity for silver coins bars and ingots “ says Peter Hug, Kitco’s Global Trading Director for precious metals. Still, Hug goes on to give Silver it’s due compared to the last 8-10 years of low prices , “we’re seeing extreme physical demand coming from our Hong Kong office and the mint is having trouble satisfying these orders for silver, it’s the dominant trade ” we at 401 Gold Consultants LLC couldn’t agree more.
Posted by :
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com