After a weak 2015, the prices of gold and silver have rallied since the beginning of the year, underpinned by safe-haven demand and rising inflation expectations in the US. Yet, silver has failed to benefit by as much as gold from the improved sentiment towards precious metals, prompting the gold/silver price ratio to rise to the highest level since the global financial crisis. In this Precious Metals Watch we investigate the reasons for the most recent underperformance of silver and explain where we expect prices to go from now.
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