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Gold trades in a range of 40 to 60 times the price of silver

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Gold trades in a range of 40 to 60 times the price of silver: Tom Essaye Quoted in Barron’s

Gold Prices Are Crushing Silver. Why That Could Change Soon.

More typically gold trades in a range of 40 to 60 times the price of silver, according to Tom Essaye, author of the Sevens Report, a markets newsletter. That means silver has room to catch up. “If history is a guide, the next phase of the precious-metals rally could belong to silver, not gold,” he wrote last month.

Also, click here to view the full article featured on Barron’s published on May 5th, 2025. However, to see the Sevens Report’s full comments on the current market environment sign up here.

If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

To strengthen your market knowledge take a free trial of The Sevens Report.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

Is Silver Set to Breakout?

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What’s in Today’s Report:

  • Is Silver Set to Breakout?

Futures are modestly weaker on digestion of this week’s rally and on mildly disappointing trade news.

Chinese officials stated there were no ongoing trade talks with the U.S. and again called for the removal of tariffs, pushing back on the “progress” narrative of the past few days.

Focus today will be on economic data and earnings.  On the data front, the key reports today include Durable Goods (E: 1.4%), Jobless Claims (E: 220K) and Existing Home Sales (E: 4.12 million) and if this “hard” data remains solid it will push back against slowdown concerns.    There is also one Fed speaker, Kashkari (5:00 p.m. ET), but he shouldn’t move markets.

On earnings, the key reports today include GOOGL ($2.02), INTC ($-0.14) and PG ($1.54).  For GOOGL and INTC, guidance will be key while investors will wait to see the impact of tariffs on PG’s quarter.

The Gold-to-Silver Ratio (GSR) is a simple and compelling measure

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The Gold-to-Silver Ratio (GSR) is a simple and compelling measure: Tom Essaye Quoted in Investing.com

Are silver prices set for a breakout?

Silver may be setting up for a breakout, according to Sevens Report’s Tom Essaye, who highlights a rare divergence between gold and silver pricing that could soon correct in favor of the latter.

“The Gold-to-Silver Ratio (GSR) is a simple and compelling measure with historical significance. It tells you how many ounces of silver it takes to buy one ounce of gold. Today, that number is around 100:1,” Essaye said in a Thursday report.

Essaye emphasizes that silver is increasingly seen as the “people’s gold,” while also benefiting from strong industrial drivers.

Demand is growing “due to electric vehicles, which use more silver than traditional cars.” Moreover, Essaye highlights solar panels, one of the fastest-growing sources of silver demand, electronics, 5G technology, medical devices, and defense systems.

Even with these tailwinds, silver prices have yet to revisit their 2011 highs near $50. “Silver hasn’t even returned close to its all-time high of $49.95 during this current precious metals’ bull run,” Essaye said.

“Typically, it runs between 40:1 and 60:1, and it doesn’t get above 100 very often,” he added.

Also, click here to view the full article featured on Investing.com published on April 24th, 2025. However, to see the Sevens Report’s full comments on the current market environment sign up here.

If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

To strengthen your market knowledge take a free trial of The Sevens Report.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

Is It Time to Buy Gold

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Is It Time to Buy Gold? Start a free trial of The Sevens Report.

What’s in Today’s Report:

  • Is It Time to Buy Gold? Bull Case vs. Bear Case
  • ISM Services Index Takeaways – Still Healthy Readings But Cracks Emerge
  • JOLTS Plunge Below Pre-Pandemic Trend

U.S. equity futures are tracking global stocks higher this morning. More underwhelming economic data overseas is helping bolster the case for rate cuts from the world’s biggest central banks in the first quarter of 2024.

Economically, German Manufacturer’s Orders fell -3.7% vs. (E) +0.5% in October. Eurozone Retail Sales edged up just +0.1% vs. (E) +0.3%. This is helping drive a bid in bond markets amid dovish money flows across asset classes today.

Looking into today’s session, focus will be on economic data early. The ADP Employment Report (E: 123K), International Trade in Goods and Services (E: -$64.1B) and Productivity and Costs (E: +4.8%, -0.9%) data will release before the bell.

Finally, there are no Fed officials scheduled to speak today. So the market will be looking for a still healthy but not “hot” ADP print, steady trade data, and a continued decline in unit labor costs (wage inflation) to help support soft-landing hopes and extend the November rally.

Is It Time to Buy Gold

Annual Discounts on Sevens Report, Alpha, Quarterly Letter, and Technicals.

We’ve been contacted by advisor subscribers who wanted to use the remainder of their 2023 pre-tax research budgets to extend their current subscriptions, upgrade to an annual (and get a month free) or add a new product (Alpha, Quarterly Letter, Technicals).

If you have unused pre-tax research dollars, we offer month-free discounts on all our products. If you would like to extend current subscriptions or save money by upgrading to an annual subscription, please email info@sevensreport.com.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

Rising Oil Prices Will Continue to Act as a Headwind

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Rising Oil Prices Will Continue to Act as a Headwind: Tom Essaye Quoted in Barron’s

Stocks Open Lower Amid Rising Tensions in the Middle East

“Looking into today’s session, there will remain considerable focus on the conflict between Israel and Hamas amid Biden’s visit to the region and if no progress is made towards a ceasefire, rising oil prices will continue to act as a headwind on risk assets,” writes Sevens Report Research’s Tom Essaye.

President Joe Biden arrived in Tel Aviv to meet with Israeli Prime Minister Benjamin Netanyahu. President Biden’s trip to Israel followed the explosion of a hospital in Gaza.

Also, click here to view the full Barron’s article published on October 18th, 2023. However, to see the Sevens Report’s full comments on the current market environment sign up here.

Rising oil prices

If you want research that comes with no long term commitment, yet provides independent, value added, plain English analysis of complex macro topics, then begin your Sevens Report subscription today by clicking here.

To strengthen your market knowledge take a free trial of The Sevens Report.

Join hundreds of advisors from huge brokerage firms like Morgan Stanley, Merrill Lynch, Wells Fargo Advisors, Raymond James, and more! To start your quarterly subscription and see how The Sevens Report can help you grow your business, click here.

Sevens Report Analysts Quoted in MarketWatch on May 25th, 2023

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Gold and silver settle at their lowest prices in about 9 weeks

“The debt ceiling drama is getting most of the attention, but a hawkish shift in tone by a list of [U.S. Federal Reserve] officials recently has holstered the dollar and sent policy-sensitive rates (beyond those durations reacting to the debt negotiations) higher,” analysts at Sevens Report Research wrote on Thursday’s newsletter. Click here to read the full article.

Tom Essaye Interviewed on BNN Bloomberg on January 3rd, 2023

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Gold is the top metal pick for kicking off 2023: Tom Essaye

Tom Essaye, founder and president of Sevens Report Research, joins BNN Bloomberg to discuss his market take for the new year. Essaye says that nothing fundamentally changed in the markets, despite it being a new year, and discusses his advocacy for defensive sectors amid Q1 volatility and lower returns. He says that gold is looking particularly attractive when compared to its commodity peers. Click here to watch the full interview.

Sevens Report Analysts Quoted in Market Watch on October 4th, 2022

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Gold futures end at a 3-week high; silver prices at highest since June

“If U.S. Treasury yields have peaked near term along with the dollar, gold and silver can both extend gains and claw back some of the recent losses”, analysts at Sevens Report Research wrote in Tuesday’s newsletter. Click here to read the full article.

Sevens Report Analyst Quoted in Market Watch on September 19th, 2022

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Gold retreats, holds near a more than 2-year low as investors await Fed decision

The new lows for gold have shifted our call on gold from neutral to bearish for the medium term. That will remain the case until we reach peak hawkishness with Fed expectations resulting in a top in the dollar and interest rates, both nominal and real, beginning to decline…analysts at Sevens Report Research wrote in Monday’s newsletter. Click here to read the full article.

Why Stocks Dropped Again

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What’s in Today’s Report:

  • Why Stocks Dropped (Again)
  • A Question About Silver

Futures are sharply lower following a very negative earnings pre-announcement from FedEx (FDX).

FedEx (FDX) earnings were terrible as the company reported EPS of $4.37 vs. (E) $5.10 and guidance was even worse with estimates of $2.75 vs. (E) $5.46.  The company sited significant macro-economic deterioration and the CEO warned about a “worldwide recession.”

Economically results were mixed as Chinese data beat estimates while UK Retail Sales were soft (–5.4% vs. –3.9%).

Today focus will be on Consumer Sentiment (E: 59.9) and more specifically the five-year inflation expectations.  In August they were 2.9% and if they rise back above 3.0% that’ll only compound the damage from Tuesday’s CPI and push stocks lower, while a decline below 2.9% will help offset CPI and help support stocks (although I think it’d take a sharp from below 2.9% for stocks to fully erase these early losses).