May 26, 2020 – Gold and silver markets enter this holiday-shortened trading week on divergent paths near-term. Gold gave back a few dollars last week while silver extended its breakout gains as the platinum group metals outperformed.

Strength in the white metals is positive overall for precious metals bulls.

Silver had gotten extremely depressed versus gold and is now closing that gap.

The gold:silver ratio has narrowed from an unprecedentedly extreme reading of 126:1 seen in late March to touch 100:1 last week – still quite elevated on a historical basis.

The next major levels to watch for silver are $19.00/oz (the high point for 2020, recorded just before the COVID crash began) and $19.50/oz (the high mark for 2019). A solid close above $19.50 would establish a new four-year high and put the bulls firmly in charge on a long-term basis.

Gold, meanwhile, just needs to break above $1,800/oz to make new multi-year highs, which would put it within striking distance of all-time highs.



Check out live precious metals prices here: https://goo.gl/gy5XMA