LONDON(BullionStreet): While Gold prices plunged recently, the ratio between the gold and silver price hits short terms peak.
Analysts said recent extreme volatility in the precious metals markets has impacted the ratio which means the two metals are changing value at different speeds than the historical norm.
Take for example the 24 hour gold-silver ratio, which is trading at around 58.7, which is off the lows of 58.2 from a few hours earlier, but well off the 59.6 peak where is was placed just less than one day ago.
Spot gold is currently trading at around $1376 an ounce, with silver $23.40 an ounce.
Viewed over the short term of the past 60 days, the current ratio levels is at higher end with the peak over this period at around the 59.6 (the low is 53.7) highlighting that the price of gold has recently been outpacing that of silver, or in another way silver has been falling at a faster rate.
About four years ago the ratio hit a long term peak of 83.7, with the low in early 2011 at 31.7.
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