3/8/2023 0 Comments Citibank argen![]() But silver also appeals for its roles in a number of fast-growing industrial applications including electronics and the photovoltaics, which underpin rooftop solar panels. India demandĪ third signal is strong physical demand for silver in India – traditionally one of the big markets for precious metals and with gift-giving festival season on the way demand from this country could rise further.įor investors, the appeal of silver lies in its close relationship with gold, which is the precious metal trend-setter. ![]() Not everyone accepts the GSR because of its simplicity, but at current prices of US$1,666/oz for gold and US$19.14/oz for silver the ratio is 87.Īt its simplest, the GSR tells an investor that silver looks cheap relative to gold. Gold-silver ratioĪ second sign that silver could rise next year is the move above 80 by the gold-silver ratio (GSR), an unsophisticated measure, which compares the price of an ounce of silver against an ounce of gold.īelievers in the GSR, which is a number derived by dividing the price of an ounce of gold by the price for an ounce of silver, argue that a high number is a positive sign for silver whereas a low number favour investment in gold. However, the bank’s analysis comes with a warning that tough background conditions, including a strong US dollar, could see silver fall further in the short term, perhaps to a low as US$16/oz before rebounding.
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