• Gold: 1,301.98 -9.16
  • Silver: 17.09 -0.21
  • Euro: 1.189 -0.010
  • USDX: 92.165 0.372
  • Oil: 50.82 0.55

Silver Trades at 11-month Highs

Wednesday, April 20th

"High-flying silver futures continued to trade at 11-month highs in Wednesday action due to industrial demand, while gold slipped after earlier tapping the closely watched $1,250 per ounce level.

Global economic recovery hopes are helping silver to gain ground on gold, a largely financial market-driven instrument used as a hedge and for other purposes. The gold/silver ratio has dropped to below 74, its lowest level since early November. Silver futures are up about 23% this year, outperforming gold’s 18% rise.

In early Wednesday trading, silver for May SIK6, +0.72%   delivery advanced 4 cents, or 0.3%, to $17.02 an ounce on Comex. Silver earlier tickled $17.26 and is trading at its highest since late May, according to FactSet."

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