"Regarding your note on Silver, I thought the 1980 high was $50 not $40?"

Eoin Treacy's view Thank you for this inquiry but as far as I know Bloomberg's data is correct. David also said that he remembers the high closer to $40 than $50. This chart indicated the peak was at $41.50.

The Gold/Silver ratio is now at an interesting level. It bottomed above 17 in late 1979 and peaked above 90 in 1991. The ratio ranged between 46 and 80 from 1997 to late 2010 and broke downwards in January. This would suggest that while silver is overextended in the short-term, it is likely to outperform gold over the medium-term.