{"id":145,"date":"2019-07-22T17:14:14","date_gmt":"2019-07-22T17:14:14","guid":{"rendered":"https:\/\/goldsilverdesk.com\/news\/?p=145"},"modified":"2024-07-08T17:54:46","modified_gmt":"2024-07-08T17:54:46","slug":"silvers-rally-to-close-in-on-19-in-a-year","status":"publish","type":"post","link":"https:\/\/goldsilverdesk.com\/news\/silvers-rally-to-close-in-on-19-in-a-year\/","title":{"rendered":"Silver’s Rally To Close In On $19 In A Year"},"content":{"rendered":"\n

Anna Golubova<\/em> Monday July 22, 2019 11:34<\/strong> <\/em><\/p>\n\n\n\n

With silver trading near fresh one-year highs, analysts see a lot more gains in store for the metal, which could be \u201cmore aligned to the perception of real economic activity.\u201d<\/p>\n\n\n\n

Silver saw positive action on Monday after hitting 13-month highs on Friday. September Comex silver prices were last at $16.40, up 1.30% on the day.<\/p>\n\n\n\n

\u201cWe liked silver for a long time. It is nice to see it do what it should be doing,\u201d TD Securities head of global strategy told Kitco News on Monday.<\/p>\n\n\n\n

Silver picking up its pace is a reflection of the market\u2019s perception of gold entering into a bull market, Melek pointed out.<\/p>\n\n\n\n

\u201c[The metal] has traditionally doubled the volatility of gold and it tends to outperform in time of the boom market. And I think we are very much entering that. Typically for every 1% move in gold, silver tends to move too,\u201d Melek stated.<\/p>\n\n\n\n

The longer-term outlook for silver is very positive with TD Securities projecting the metal to climb to $18.75 by the end of 2020. \u201cWe are looking at $16.10 for Q3 and $16.70 for Q4, ultimately going to $18.75 by the end of 2020,\u201d he said.<\/p>\n\n\n\n

The supply-demand fundamentals are also looking pro-higher silver prices, added Melek.<\/p>\n\n\n\n

\u201cThis market could very well start to turn into a deficit and a lot of the inventories that people have been talking about should start dissipating. And much of it will be investment-driven,\u201d he noted.<\/p>\n\n\n\n

What Is Gold\/Silver Ratio Telling Investors?<\/strong><\/p>\n\n\n\n

The gold\/silver ratio surged to record highs this year, making silver very cheap relative to gold. And with silver now rallying, markets are starting to see a reversal of that trend. The gold\/silver ratio was last around 87.35.<\/p>\n\n\n\n

The ratio saw its biggest weekly decline in three years, falling 5.4%, said Pepperstone\u2019s head of research Chris Weston as he questioned what the move means from the macroeconomic perspective.<\/p>\n\n\n\n

\u201cThere is \u2026 an interesting macro thematic around this ratio too, with some seeing silver more aligned to the perception of real economic activity. If this is the start of a new trend of silver outperforming gold, then the debate will center on whether things are not as bad in the US and global economy,\u201d Weston said.<\/p>\n\n\n\n

\u201cThat said, it is easy to think this is just a reflection that market has pared back expectations of how aggressive the Federal Reserve will be in next week\u2019s FOMC meeting, after last week\u2019s communication nightmare, with the probability of a 50bp cut now set at 18%.\u201d<\/p>\n\n\n\n

A trade Weston throws out there is short gold and long silver: \u201cIf there is more downside in this ratio, meaning gold underperforms silver on a relative basis, then being short of gold and long of silver and netting off the exposures as a \u2018pairs trade\u2019 could be an interesting way of trading this theme,\u201d he wrote on Monday.<\/p>\n\n\n\n

Silver does offer an interesting opportunity to investors at the moment \u2014 being so cheap relative to gold, added TD\u2019s Melek.<\/p>\n\n\n\n

\u201cThere\u2019s an element where it is so-called \u2018poor man\u2019s gold\u2019 here. It is very cheap relative to gold. And if you are of the view that the Federal Reserve will cut rates aggressively along with central banks around the world then we are moving into a broadly negative view of the world. We already have 13.3 trillion of bonds yielding negative returns here, silver is a natural,\u201d he said. \u201cThere is a lot of relative value.\u201d<\/p>\n\n\n\n

___________________<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Anna Golubova Monday July 22, 2019 11:34 With silver trading near fresh one-year highs, analysts see a lot more gains in store for the metal, which could be \u201cmore aligned to the perception of real economic activity.\u201d Silver saw positive action on Monday after hitting 13-month highs on Friday. September Comex silver prices were last at $16.40, … Continue reading “Silver’s Rally To Close In On $19 In A Year”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-145","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nSilver's Rally To Close In On $19 In A Year - Gold Silver Desk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/goldsilverdesk.com\/news\/silvers-rally-to-close-in-on-19-in-a-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Silver's Rally To Close In On $19 In A Year\" \/>\n<meta property=\"og:description\" content=\"Anna Golubova Monday July 22, 2019 11:34 With silver trading near fresh one-year highs, analysts see a lot more gains in store for the metal, which could be \u201cmore aligned to the perception of real economic activity.\u201d Silver saw positive action on Monday after hitting 13-month highs on Friday. September Comex silver prices were last at $16.40, … Continue reading "Silver’s Rally To Close In On $19 In A Year"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/goldsilverdesk.com\/news\/silvers-rally-to-close-in-on-19-in-a-year\/\" \/>\n<meta property=\"og:site_name\" content=\"Gold Silver Desk\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-22T17:14:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-08T17:54:46+00:00\" \/>\n<meta name=\"author\" content=\"david@goldsilverdesk.com\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"david@goldsilverdesk.com\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/goldsilverdesk.com\\\/news\\\/silvers-rally-to-close-in-on-19-in-a-year\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/goldsilverdesk.com\\\/news\\\/silvers-rally-to-close-in-on-19-in-a-year\\\/\"},\"author\":{\"name\":\"david@goldsilverdesk.com\",\"@id\":\"https:\\\/\\\/goldsilverdesk.com\\\/news\\\/#\\\/schema\\\/person\\\/7985cc77bfb2b705aec4b5dd3e07c748\"},\"headline\":\"Silver’s Rally To Close In On $19 In A Year\",\"datePublished\":\"2019-07-22T17:14:14+00:00\",\"dateModified\":\"2024-07-08T17:54:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/goldsilverdesk.com\\\/news\\\/silvers-rally-to-close-in-on-19-in-a-year\\\/\"},\"wordCount\":586,\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/goldsilverdesk.com\\\/news\\\/silvers-rally-to-close-in-on-19-in-a-year\\\/\",\"url\":\"https:\\\/\\\/goldsilverdesk.com\\\/news\\\/silvers-rally-to-close-in-on-19-in-a-year\\\/\",\"name\":\"Silver's Rally To Close In On $19 In A Year - 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