As Canada enjoys Easter Monday, it is good to see gold continuing to move higher. At the time of writing, gold was trading around $87, up 2.65%, despite the fact that part of the world is on vacation today. This morning, silver was also above $33/oz, but has now retreated. Global uncertainty, led by the possibility of a trade war and the falling dollar, has contributed to the rise in gold and silver prices. The gold to silver ratio continues to exceed the 100:1 level. After peaking at 105:1, it currently sits at about 103:1. I feel like I'm getting blue in the face ranting about how silver is undervalued here and that there is great potential for great upside action. Personally, I will continue to buy silver with the ratio it is currently at, which is not to say that gold is a bad buy.

Josh Perez

Managing Director

Chief of Global Trading