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News of an expanding global trade war has sent all markets into turmoil. Gold is falling... but nowhere near as much as the general stock market is falling. On the other hand, silver is getting absolutely slammed right now – down some 14% in the past two days.
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Silver is trading at $30.10 as of 11:30 a.m. New York time. At the same time, the gold:silver ratio – the number of ounces of silver needed to buy one ounce of gold – has shot up over 100:1. The last time we saw such a high ratio was in the early days of the Covid panic in 2020. Those who acted to acquire silver at that time were rewarded.
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Silver is way more economically sensitive than gold, so silver price weakness in the midst of a market scare or short-term liquidity situation is not surprising. Many may view this as a buying opportunity, especially with premiums on silver coins, bars, and rounds still at multi-year lows. | | |
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