Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

Gold Splits from Silver, Ratio Gains Before French Election But GLD Shrinks, 'Safe Haven' Demand Lacking

IMG Auteur
 
Published : April 21st, 2017
574 words - Reading time : 1 - 2 minutes
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : GoldWire
GOLD PRICES spiked to a 2-day high of $1286 lunchtime Friday in London, but silver slipped below $18 per ounce as world stock markets rose and commodity prices held steady.
Since last Friday's finish, gold in Dollars has trimmed 15% off last week's strong $33 advance to the highest level in 5 months.
Silver prices have lost all of last week's 3.1% gains in contrast, retreating to levels seen 10 weeks ago.
Today that pushed the Gold/Silver Ratio of the two precious metals' prices up near its highest levels of 2017 so far, with one ounce of gold worth more than 71 ounces of silver.
The Gold/Silver Ratio has averaged 62 over the last 10 years on a daily basis.
24hGold - Gold Splits from Sil...
Still beating gold year-to-date,  silver prices have been "assisted by a weaker Dollar and weaker [interest] rates," says a note from former London bullion market-maker Barclays, warning that Comex futures positioning looks over-extended and could point to a sharp retreat ahead.
Physical silver held to back the value of shares in the giant SLV exchange-traded fund ended Thursday at 10,149 tonnes, near a 12-month lows.
"Gold remains supported by elevated investor risk-awareness in view of the full near-term political events agenda," says a note from Swiss private bank Julius Baer.
But the giant GLD gold ETF yesterday reversed half of Wednesday's strong inflows of investor cash, shedding 6.5 of the near-12 extra tonnes needed to back the trust fund's value.
Strong gold demand on South Korea's official exchange the KRX – apparently driven by the risk of conflict between the US and neighboring Communist dictatorship North Korea – is in fact coming from retailers stockpiling supplies before next month's wedding season, says a note from specialist analysts Thomson Reuters GFMS.
"Most of the selling this month has been conducted by individual investors...choosing to take advantage of the recent price spikes to book a profit."
Shanghai gold prices meantime closed Friday almost 1% below Monday's spike to new 5-month highs in Yuan terms, with the Dollar-equivalent premium over London quotes extending its longest stretch below $10 per ounce since the Chinese New Year at end-January.
Launched 12 months ago this week, the Shanghai Gold Fix benchmark has shown an average $12.80 incentive to new bullion imports into the world's No.1 consumer nation so far in 2017.
India's gold prices have moved back to a small premium meantime, ahead of next week's key festive Akshaya Tritiya gold buying and then spring wedding season.
"If the anti-establishment candidates already do significantly better," says a note from German finance group Commerzbank looking at this weekend's first round of the French presidential election, "this could trigger...considerable [gold] demand as a safe haven."
But "I would rather sell a rally on gold in the wake of a shock result in France," says a trading note from David Govett at brokers Marex Spectron in London.
"Concentrate on trading the euro instead. It is the currency that will suffer most from a Le Pen win."
Gold priced in the single-currency Euro crept back up towards €1200 per ounce on Friday, halving last week's 2.6% gain to the highest level since August.
UK Pound prices meantime rose back above £1000 as Sterling fell hard after news of a shock drop in UK retail sales between January and March, the first quarter-on-quarter drop since 2013.
You can receive your first gram of Gold free by opening an account with Bullion Vault : Click here.
Data and Statistics for these countries : France | Georgia | India | South Korea | All
Gold and Silver Prices for these countries : France | Georgia | India | South Korea | All
<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
The London Gold Market Report is the daily market review from BullionVault, the world's largest physical gold and silver market for private investors. A full member of professional trade body the London Bullion Market Association, BullionVault publishes the LGMR every day that the market is open, bringing you insider comment and analysis from the very center of the world's $240 billion-a-day physical gold trade, and putting the latest gold price action into its wider financial and economic context. Please Note: This article is to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it.
Comment this article
>Follow all commentairies
You must be logged in to comment an article8000 characters max.
Log in or Sign up
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Debate Over Electric Trucks: Let’s Get It On
25 AprJerry82
Thanks Mish, this was a very insightful and thought provoking piece. I've often heard concerns about the weight of these new electric trucks and th...
No, The Junior Mining Stocks Are Not About To Implode - Dave Kranzler
25 AprJerry82
Thank you Dave for this excellent article. I agree with your well thought out critiques that point to junior miners being just fine. Relying on tha...
Gold Bullion Erases $10 Bounce Despite French Election, N.Korea Ris...
25 AprJerry82
I don't know how much I'd trust the listed GLD holdings. I always found GLD's structure to be a bit strange. They so famously claim that they are 1...
The Story of Gold Money, Past, Present and Future, by Edwin Walter ...
18 AprJerry82
Thank you for this very thought provoking piece Nathan. I have not read any literature from Edwin Walter Kemmerer before but I am inclined to pick ...
Gold Prices Slip $10 After Breaking Downtrend as UK's May Seeks Bre...
18 AprSam Maher1
"That left the GLD gold ETF needing a 2017 high of 849 tonnes in bullion backing." I frequently see you make these claims on GLD's holding...
Bombs Away!
17 Aprprljr-1
James tribe owns trump.
Krunch Time for Korean Krackpot Despot, Kim Jong-Un: Missile Crisis...
17 Aprprljr1
Unfortunately the world is not run by Christians, well except for the useful idiot ones.
Krunch Time for Korean Krackpot Despot, Kim Jong-Un: Missile Crisis...
15 Aprkevthorne1
I read from this that it is the USA that is 'a threat to the entire world'. How many times have we heard this - 'country X is a threat to the w...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS