Gold-silver ratio jumps to 60; is it the right time to invest in gold?

Key Highlights

• Decoding the gold-silver ratio, Amit Goel, Chief Global Strategist at Pace 360, said, "In the gold-silver ratio,80 is the pivot point.
• When the gold-silver ratio falls below 80, silver prices begin to enter the overbought zone.
• Similarly, when this ratio exceeds 80, gold prices enter the overbought zone.
• As the gold rate today in the international market is $4,345.50 per ounce and the silver rate today is $71.30 per ounce, the gold-silver ratio stands slightly above 60, indicating that silver rates today are in the overbought zone.
• One should avoid buying the white metal in the current market scenario." The Chief Global Strategist at Pace 360 stated that the current market scenario for bullion is ideal for buying gold, as the gold-silver ratio has risen from 54 to 60 and remains 20 points away from the pivot point.