Demand For Silver Outpaces Gold

GOLD

With a weaker U.S. Dollar Index and talk of the $1.9 trillion COVID-19 relief bill in Congress, Gold started a rally in European Markets. Gold quickly moved above the key $1,800 level and reached a high of $1,815 before seeing light selling. At 11am PT today, Gold is trading at $1,808 per ounce, up $27 on excellent volume.

SILVER

Silver followed Gold higher, reaching a high of $28.15 per ounce with excellent volume. The Silver-to-Gold ratio continues to decline this morning, moving under 65-to-1, for the 1st time in over 4 ½ years. I believe this will drop to below 50-to-1, as demand for Silver outpaces Gold demand. At 11 am PT today, Silver is up $0.80 per ounce, trading at $28.06 on excellent volume.