market talk

Silver is currently underpriced relative to gold and has
the potential to outperform the yellow metal in the short-term, says Citi. The
gold/silver ratio, which measures the number of silver ounces that can be
bought for the price of one ounce of gold, is currently around 51, well above
levels seen in the gold and silver bull market of 1970-1980, when the ratio
fell below 16, says the bank. A key resistance level to watch is
$35.66/oz-$36.55/oz, it says, noting that a weekly close above this would open
the way for a medium-term silver rally toward $45.30/oz. Spot silver down 0.6%
at $33.642/oz; spot gold down 0.6% at $1,718.90/oz.