Precious metal markets saw renewed strength this week, with gold in particular catching a strong bid, last trading back above USD $3,300 per troy ounce (oz).
Precious metal markets saw renewed strength this week, with gold in particular catching a strong bid, last trading back above USD $3,300 per troy ounce (oz).
Silver is also on more stable footing, last trading just above USD $32.50oz, with the gold to silver ratio sitting at just over 100.
This weeks rally, which caught some market participants by surprise, follows on from a brief period of consolidation from late April to early May in which the USD gold price corrected by approximately 7%.
Silver was also in correction mode during that phase, and at one point had fallen by closer to 15%, with clients of ABC Bullion taking advantage of the price dip to increase their holdings of both precious metals.
Gold to silver ratio = 101.62
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