Silver Surges 3% To $18.30oz; Next Resistance At $20/oz and Then $50/oz

* Silver has breached the resistance level of $18 an ounce for the first time in two years after surging 3% yesterday

* Spot silver extended gains for a third straight session, jumping 3% to $18.15 per ounce. It reached $18.34, its highest level since September 2017 and is up 11.5% in August, making it the top performing asset in the world

* Gold and silver gained as U.S. stocks fell and a drop in Treasury yields led to safe haven demand for the precious metals due to concerns about slowing economies

* The gold silver ratio has fallen from 90 to 84 to 1 and will continue to fall as silver plays catch up to gold. The next resistance level is $20/oz and a monthly close over $20/oz will open the way to silver looking to target the nominal high of $50/oz in 1980

News and Commentary

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Gold Prices (LBMA – USD, GBP & EUR – AM/ PM Fix)

27-Aug-19 1531.85 1532.95, 1250.91 1247.51 & 1378.97 1380.88
23-Aug-19 1495.50 1503.80, 1224.37 1228.91 & 1351.48 1357.63
22-Aug-19 1498.70 1502.05, 1234.63 1225.97 & 1351.98 1354.10
21-Aug-19 1499.65 1503.25, 1235.41 1238.53 & 1351.48 1354.43
20-Aug-19 1502.65 1504.55, 1242.69 1239.60 & 1356.44 1357.86
19-Aug-19 1499.35 1496.60, 1236.66 1235.29 & 1350.76 1348.89
16-Aug-19 1509.05 1515.25, 1242.55 1246.14 & 1361.46 1367.82
15-Aug-19 1517.65 1515.65, 1254.49 1250.26 & 1361.48 1363.78
14-Aug-19 1500.35 1513.25, 1241.69 1253.73 & 1341.61 1356.17
13-Aug-19 1527.20 1498.40, 1265.90 1240.38 & 1363.48 1338.67
12-Aug-19 1501.95 1504.70, 1244.82 1243.63 & 1343.64 1341.74
09-Aug-19 1503.50 1497.70, 1242.19 1240.99 & 1342.02 1338.05
08-Aug-19 1497.40 1495.75, 1230.26 1234.14 & 1335.08 1335.70
07-Aug-19 1487.65 1506.05, 1225.82 1239.33 & 1330.11 1341.44
06-Aug-19 1461.85 1465.25, 1199.59 1201.21 & 1304.85 1311.11
05-Aug-19 1457.45 1465.25, 1199.92 1203.85 & 1307.92 1310.23
02-Aug-19 1436.05 1441.75, 1184.17 1187.28 & 1294.02 1298.44

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