Market Musings 010424: gold surges even higher

Market Musings 010424: Gold surges yet higher Gold gallops to new all-time highs The gold price continues to make a new all time high to over $2,250 per ounce. Source:TradingView.com Meanwhile silver, which is also an ancient form of money like gold continues to languish 50% below its all time high reached in 2011 of $50 an ounce today at just over $25 per ounce. Source: TradingView.com But there are signs that silver may finally be starting to react to the upwards momentum in the gold price, Over the very long term, the ratio between the gold and the silver price has been around 67, but has varied enormously around this. It has been as low as 14 times and as high as maybe 120 times. Today it hovers at nearly 90 times, so at the higher end of the ratio, suggesting that silver could have an accelerated catch up to the gold price should gold continue to move higher towards $2,300 per ounce. To give some example, at today’s price of $2,250 params and at an average Gold Silver ratio of around 67….