Monday, December 19, 2011

Silver Selloff Intensifies- Breaks $29

Live 24 hours silver chart [ Kitco Inc. ]
Silver is now down over 3.5% during early Asian trading, and has just crashed through $29.  With the cartel likely to pile on the paper at the LBMA and COMEX open, silver may test last Thursday's lows.
Notice that percentage wise, silver is currently down 5x as much as gold, which is down merely .72%. 
The silver/gold ratio has widened to 55.3/1, and appears to be targeting 60/1.  While the silver/gold ratio is nowhere near the extremes seen in 2008- it is now a very attractive ratio for the conversion of gold bullion to silver.

( closes in 16 hrs. 8 mins.)
Metals Date Time (EST) Bid Ask Change from NY Close
Gold Charts  GOLD 12/19/2011 01:07 1587.70 1588.70
Silver Charts  SILVER 12/19/2011 01:07 28.69 28.79

Live 24 hours silver chart [ Kitco Inc. ]