Silver Bullion “Has So Much More to Give” – 5 Must See Charts Show

Silver bullion has so much more to give according to Bloomberg today in an interesting article replete with 5 must see silver charts.

From Bloomberg:

Silver’s bull run looks like it has legs.

The metal with the best return this year of any in the Bloomberg Commodity Index is poised for more gains, investors, traders and market data suggest.

“Silver has the best-looking chart among all the commodities,” said Andy Pfaff, who as chief investment officer for commodities at MitonOptimal Group in Cape Town increased his allocation to the metal over the past two weeks. “When silver moves, it really, really moves, and everyone wants to be on the right side of that trade.”

The metal is up more than 11 percent in the last two weeks after underperforming gold in the first quarter on concerns slow Chinese growth would curb demand in the biggest consumer of commodities. While both are precious metals, silver has more uses in manufacturing. Silver traded at $16.909 an ounce on Wednesday.

Following are charts that suggest the possibility of further gains.

The ratio of gold to silver prices fell to the lowest level since October on Wednesday after peaking in February at the highest since 2008. It will likely fall further, according to dealers such as brokerage GoldCore Ltd. in Dublin as reported by Bloomberg.

Read full Bloomberg article and see 5 charts here

Gold Prices (LBMA)

20 April: USD 1,247.75, EUR 1,098.09 and GBP 867.45 per ounce

19 April: USD 1,241.70, EUR 1,095.18 and GBP 867.01 per ounce

18 April: USD 1,237.70, EUR 1,095.02 and GBP 872.45 per ounce

15 April: USD 1,229.75, EUR 1,092.16 and GBP 867.46 per ounce

14 April: USD 1,240.30, EUR 1,101.04 and GBP 874.96 per ounce

Silver Prices (LBMA)

20 April: USD 16.97, EUR 14.93 and GBP 11.81 per ounce

19 April: USD 16.62, EUR 14.67 and GBP 11.57 per ounce

18 April: USD 16.20, EUR 14.33 and GBP 11.41 per ounce

15 April: USD 16.17, EUR 14.33 and GBP 11.40 per ounce

14 April: USD 16.13, EUR 14.32 and GBP 11.39 per ounce

Gold News and Commentary

Gold Silver Ratio “May Revert” Lower – GoldCore (Bloomberg)

Silver futures post highest close in nearly a year (Marketwatch)

Silver hits 11-month high. It’s up more than gold in 2016 (CNN)

Gold gains on dollar weakness, silver hits 10-month high (Reuters)

Russia and China plan platform to unite their gold trading (Russia Today)

Silver’s Bull Market Has So Much More to Give (Bloomberg)

Chinese Buying Silver: “Momentum Breaks Out To Highest In Years” – BOA (Zero Hedge)

Market rigging is getting worse – Hunsader (Peak Prosperity)

China moves to increase gold power – World supply looks to dwindle (Investor Intel)

China launches yuan gold fix in bid to be price maker (CNBC)

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Silver Bullion “Has So Much More to Give” – 5 Must See Charts Show