Silver at 10-month High

With interest rates negative around the world Silver jumps to a 10 month high.

Silver prices jumped to their highest levels in 10 months during trading in Asia.
The price of silver rose 3 per cent to $16.73 a troy ounce, the highest level since June. It is now trading down at $16.63, writes Henry Sanderson.

Silver prices rallied on the Shanghai Gold Exchange, rising as much as 4.3 per cent to 3,595 yuan per kilogram, according to Reuters.

Silver prices have lagged gold this year, even though traditionally, gold rallies lead to higher silver prices. Prices started to rise at the beginning of last week.

“It’s a combination of silver getting a bit of attention over the past week with the big move in the gold/silver ratio and quite a few market participants looking at silver in and its relative performance to gold and thinking it might be time for a bit of catch up,” Joni Teves, an analyst at UBS, said.

Gold has rallied 17 per cent this year as expectations of a Fed rate hike have been pushed back. It traded up 0.85 per cent at $1,242.75 a troy ounce today.

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E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.