Bloomberg Notices Silver:Gold Ratio
Bloomberg today (June 3, 2009) has published an article by Jason Scott that specifically points to the massive drop in the silver:gold ratio since it peaked above 84 in early October to the current 61 area. It’s not often that the mainstream press mentions this ratio, and it bodes well for the future spreading of the silver story.
Of course, when the ratio has gone from over 70 to 61 in around a month’s time, and silver is now up almost 50% on the year (compared to gold’s 14%), the financial media are supposed to notice these things. Let’s see how long it takes CNBC to pick up on the news.
Meanwhile on June 2nd, a Silverseek.com article quoted British scientist Valerie Edward Jones on how “advances in technology, particularly nanotechnology, are allowing scientists to increasingly apply silver’s benefits in more areas”, including “healthcare and hygiene”. She then pointed out its use in deodorants in Europe.
As the son of a stockbroker, I got into stocks during college, ultimately reading Jack Schwager’s ‘Market Wizards’ book senior year, which really opened my eyes to trading and investing in other asset classes. I worked on the Pacific Stock Exchange for most of the 1990’s as an assistant specialist and eventually a specialist. I developed a very contrarian trading style, searching out closed end funds and micro-cap stocks to trade. Trading for almost 20 years now, it wasn’t until Dec 07 that a friend turned me on to silver, after I queried him about gold’s prospects during the early months of the credit bubble bursting. The next month I made my first purchase of silver bullion, and have followed the silver market closely ever since. I am also a huge sports fan, and contribute to the website www.sportscity.com with a general sports blog (Speedburner on Sports), a tennis blog (Todd’s Tennis Takes), and NBA commentary (NBA Daily Awards).Popular on Facebook
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