Silver-Gold Ratio At An Unbelievable 104.8-to-1

GOLD

The Gold value remains on the defensive, testing the $1,500 major support level. Today, Gold reached a low of $1,504 before seeing major bargain buying. Gold needs to stabilize above the important $1,500 level to provide confidence for fresh buyers. At 11am PT today, Gold is down $71, trading at $1,523 per ounce on heavy volume.

SILVER

When Gold broke below the $1,550 level, Silver crashed below the $15 per ounce support level and kept on going. The physical demand for popular Silver investment items is going crazy. The U.S. Mint reports that current March sales of Silver eagles have exceeds 300% of what was sold in the entire month of February. 2.3 million one-ounce Silver eagles have been sold in March 2020, compared to 650,000 sold in February. The Silver-Gold ratio is now at an unbelievable 104.8-to-1. At 11am PT today, Silver is trading at $14.53 per ounce, down $1.53 on extraordinary volume.