Commentary: Silver fell slightly; settling $0.10, or 0.33%, lower at $28.78 on Wednesday. Like those for gold, silver ETF holdings fell significantly, down 5 million troy ounces to 474 million, almost twelve million below the record set in December. These are the lowest levels in holdings since late-November.
The gold/silver ratio rose to 47.7, slightly above the four-year low near 46 set late last year. (The gold/silver ratio measures the relative value/performance of the two precious metals. A higher ratio indicates gold outperformance, while a lower ratio indicates silver outperformance)