Silver Surges To 8-Month Highs As Hedgers Unwind

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April 12, 2016 3:20pm NYSE:GDX NYSE:GDXJ

silver pricesTyler Durden:  Silver is now up almost 10% from its spike lows last week (up over 5% since Friday), has broken above $16, snapped 2016’s highs at $16.17 and is back at its highest since October 2015.


Amid the big tumble in commercial hedgers positions, we also note the Gold/Silver ratio has plunged to 2-month lows – just as we suggested.

Silver breaks 2016 highs.

 

To October levels.

 

As hedgers unwind.

A month ago we saidSo bottom line, if you’re a speculator in precious metals, now may be a good time to consider trading in some gold for silver.

And since then,Silver is up 4.6% and gold unch.

 

Leaving the Gold/Silver ratio at 2-month lows.

This article is brought to you courtesy of Tyler Durden From Zero Hedge.

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