By the moment I post this it´s 39.12!!!!
Silver climbed to its most expensive level versus gold since 1983 as rising inflation spurred by commodity shortages, economic recovery and turmoil in the Middle East bolstered demand.
An ounce of gold bought 37.15 ounces of silver at 2:32 p.m. inSingapore, compared with an average of 62 in the past 10 years. Silver for immediate delivery has more than doubled in the past year while gold gained 27 percent, cutting the ratio from a high of 70 in June.
“Silver has yet to hit a record which means the ratio will decline further” to levels unseen since 1980, when the billionaire Hunt brothers hoarded the metal, said Hwang Il Doo, Seoul-based senior trader with KEB Futures Co. “Investor and industrial demand is strong as the economic recovery is under way and inflation becomes a worry.”
The jobless rate in the U.S. unexpectedly fell to a two- year low in March. The European Central Bank may boost interest ratesthis week to damp inflation that is likely to exceed its target through 2011 as the regional economy strengthens.
A United Nations index of world food prices jumped to a record in February, contributing to riots across northern Africa and the Middle East that toppled leaders in Egypt and Tunisia. Corn prices traded near a 33-month high today, while crude oil inNew York hovered near the highest level since September 2008.
Silver Outperforms
Silver for immediate delivery gained as much as 0.6 percent to $38.7875 an ounce, the highest since 1980, and traded at $38.6575 an ounce in Singapore. The cash metal reached a record $49.45 an ounce in January 1980. Gold advanced 0.2 percent to $1,436.97 an ounce.
Silver is the second-best performer in the UBS Bloomberg CMCI commodity index in the past year. Holdings in exchange- traded products backed by the metal climbed for a second day on April 4, rising 22.9 metric tons to 15,395.52 tons, according to data compiled by Bloomberg.
Bloomberg
hostgator coupon 2011
No comments:
Post a Comment