Grain of Salt Required The price of gold fell $7, and that of silver 24 cents. This was a holiday shortened week, due to Thanksgiving on Thursday in the US (and likely thin trading and poor liquidity on Wednesday and Friday). So take the numbers this week, including the basis, with a grain of that once-monetary commodity, salt. We will keep the market action commentary brief.
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Fundamental Developments Here are the charts of the prices of gold and silver, and the gold-silver ratio.
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Next, this is a graph of the gold price measured in silver, otherwise known as the gold to silver ratio. The ratio rose.
In this graph, we show both bid and offer prices for the gold-silver ratio. If you were to sell gold on the bid and buy silver at the ask, that is the lower bid price. Conversely, if you sold silver on the bid and bought gold at the offer, that is the higher offer price.
This post was published at Acting-Man on November 28, 2017.