Eric Sepanek
SBC Founder
Eric Sepanek is the founder of Scottsdale Bullion & Coin, established in 2011. With extensive experience in the precious metals industry, he is dedicated to educating Americans on the wealth preservation power of gold and silver.
Silver had a good week. Monday opened strong for the gray metal on a weaker dollar and dovish Fed sentiments, closing the day above $16.15 per ounce. Tuesday’s silver prices touched a five-month high. Silver had rallied 7.8% in the past four sessions—double the rate of gold. This week showed that the silver price rose faster against gold.
Silver posted modest gains on Wednesday, reaching another 5.5-month high. In this case, the silver price diverged from gold, because the yellow metal took a hit on Wednesday, slipping lower due to profit taking and risk-on attitudes. This means the gold-silver ratio was lower, a positive factor for silver.
Silver was not as affected by the strong equities markets and gaining stock markets as gold was, pushing gains through to the end of the week. On Thursday, news broke that the Deutsche Bank lawsuit regarding price manipulation reached a settlement, which gave a boost to silver prices.
On Friday, the silver price closed at a 10-month high, up 5.6% against gold’s 1% decline. Silver has begun to outpace gold prices, as often happens in a precious metals boon, which is a negative sign for the dollar. Silver closed the week above $16.25 per ounce.