| Citi Research is not looking for silver to regain its highs from August any time soon. Spot silver broke below $18 an ounce on Oct. 4 for the first time in three months, following the initial European Central Bank announcement to potentially taper the bond-buying program, Citi says.
“The same day saw the gold:silver ratio jump to 71x (times) -- from a 2H’16 average of 68x -- during intra-day trading as silver price returns fell below 30% YTD (year to date) for the first time since June,” Citi says. “Given RSI (Relative Strength Index) levels suggest both gold and silver prices are now oversold, the recent buying trend from Chinese investors immediately post the ‘Golden Week’ holiday and the pending U.S. presidential elections may help to counter any further MTD (month-to-date) price unwind.”.............................................Full Article: Source
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