Gold/Silver Ratio Still Widening

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Buoyed by a resurgent equities market, the Philadelphia Gold/Silver Index notched up 5.7% to 182.16. The broader-based AMEX Gold Miners Index gained 4.3%, which translated into a 4.2% increase in the price of an exchange-traded fund, the Market Vectors Gold Miners ETF that tracks the index.

For the week ending Thursday, spot gold - basis the London morning fix - was up 1% at $872.25; silver, at $16.58, was off 0.4%. The gold/silver ratio widened 1.4% to 52.6-to-1. The ratio last peaked at 57.3-to-1 in December before tumbling to 47.4-to-1 in early March as silver and gold reached their record-setting zeniths.

The DB Double Short Gold ETN (NYSE Arca: DZZ) lost 7.2% on the week while the iShares Silver Trust (AMEX: SLV) gained 4.4%...

Things looked relatively better for mining stocks this week. Buoyed by a resurgent equities market, the Philadelphia Gold/Silver Index (PHLX: XAU) notched up 5.7% to 182.16. The broader-based AMEX Gold Miners Index (AMEX: GDM) gained 4.3%, which translated into a 4.2% increase in the price of an exchange-traded fund, the Market Vectors Gold Miners ETF (AMEX: GDX), that tracks the index.

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