Gold/Silver ratio to head back up towards resistance at 69.54/70.05 – Commerzbank

Gold/Silver Ratio is sidelined. However, there is scope to head back up towards resistance at 69.54/70.05, according to Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank.

See:

• Silver Price Analysis: XAG/USD to trade with a positive bias while above $25.31 – Commerzbank

• Gold Price Forecast: XAU/USD points to further gains while above $1739 – Commerzbank

The ratio is sidelined

The Gold/Silver ratio is sidelined, it is bouncing off its current June low at 66.94 and targets the August low and March as well as April highs at 69.54/70.05.” 

“If the next higher early January low at 70.20 were to be exceeded, the 200-day moving average at 70.93 would be next in line.” 

“Only a currently unexpected slip through the 66.94 recent low would lead to the May low at 66.13 being back in sight. Further support comes at 65.50, the mid-March low and also at the 64.13/63.95 February lows.” 

“Below 63.95 we have 62.20, the July 2014 low and the 60.21 2014 low. The September 2013 low is found at 57.50.”