by Peter Schiff, Schiff Gold:
The silver price has dipped since December, from almost $26 per ounce to around $22 today. We reported on silver being a relative bargain at the time, and with lower spot prices and an even higher gold/silver ratio today, gold’s monetary sibling is looking like an even more attractive buy than it was late last year.
The gold/silver ratio refers to how many ounces of silver would buy a single ounce of gold, and at one point, the number was fixed by law. A lot has changed since then, with gold no longer backing the US dollar, and a whole array of precious metals-linked financial products like futures and ETFs adding to the complexity of the market.