Silver Market Update : Epic Research Singapore

Silver is correcting “more violently as gold, as the white metal historically trades more volatile than its yellow counterpart,” said Pantelis. “We don’t see precious metals entering a big correction, but mostly consolidation over the summer months, so this counts for silver too.”

Silver prices, which are supported by hedging and industrial-use demand, are still up about 5.1% month to date, while gold has seen a 0.2% decline for the month so far.

Based on the current gold/silver price ratio, Pantelis believes that the price of silver is still acting in favor of gold.

Meanwhile, September copper HGU6, +0.27%  fell just under a cent to $2.254 a pound. October platinum PLV6, -0.96%  shed $7.10, or 0.7%, to $1,091.50 an ounce. September palladium PAU6, -0.98%  added $19.60, or 3%, to $676 an ounce.

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