June 17, 2019 -- Gold and silver prices moved higher towards the end of last week and currently rest near some key overhead resistance levels, especially gold.

The yellow metal has been stymied near $1,360 per ounce multiple times over the past five years. If gold can break through decisively, many technical analysts expect a rally taking gold to $1,600 and beyond. Silver is another matter. It is simply trying to retake $15/ounce and remains well below its 2019 highs. The gold/silver ratio (the gold price divided by the silver price) is currently around 90 to 1, nearly the highest ever recorded – and as high as we’ve seen it in a generation.

While silver is not yet confirming gold’s move higher, it is hard to imagine a bull market in gold where silver does not ultimately outperform.

All eyes will be on the FOMC this week. Expectations around interest rate policy have been rapidly changing. Not long ago, Fed watchers were counting on 3-4 rate hikes in 2019. Now many expect our central bankers to start cutting rates – if not this week, then at their next meeting in late July.




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