Wealth Monitor April 2016 | Page 27

PRECIOUS METALS | Consolidation Silver Unable To Keep Pace With Gold 1400 22 Gold Prices ($ / troy ounce) 20 1300 19 1250 18 1200 17 16 1150 Silver Prices ($ / troy ounce) 21 1350 15 1100 Mar-14 May-14 Jul-14 Sep-14 Gold Inches Up In what may seem ironical, Moody’s Investor Service downgraded the ratings for Goldcorp Inc, the world’s 3rd most valuable gold miner to the lowest investment grade with a negative outlook on a day gold prices surged to the highest level in the last 12 months. Conquering the $1280/oz level, the yellow metal continued the upmove which commenced from the beginning of the year. Investors who abandoned gold in recent years, a reason for the dismal fortunes at Goldcorp Inc., have started to return and with prices holding up, short-lived corrections and less of a threat from the stock markets, which remains mired in uncertainty, there is a growing belief on the interest to