mines prices markets

Silver price Looking for the gold silver ratio 2011
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The big fall in the gold:silver ratio over the past few months points, perhaps, to the future decline in the ratio not being as steep as experienced in the first few months of this year.

LONDON -

The febrile atmosphere in the silver market of late has taken it up to challenge the psychological target of $50/ounce, the nominal price record registered on 21st January 1980. The failure to pierce this iconic target prompted profit taking, which turned into long liquidation, and into technical selling... a sequence by no means uncommon in commodities or other markets.

Silver's reputation for volatility, especially to the downside, is carried before it and this most tantalising of metals has a habit of seducing buyers and then leaving them firmly by the wayside. This time has been no exception. While the recent fall from almost $50 to a recent low of just over $32, a drop of 35% in slightly more than two weeks, has left a degree of bemusement in its wake, silver, like gold, remains in its medium-term upward price trend. The fundamentals of the market, with silver throwing off a surplus again this year, mean that investors will have to be ready to step up to the plate if this longer-term bull market is to be sustained and silver's recent demonstration of its fiercely volatile nature may mean that some putative buyers have now been deterred.....more