Gold, silver remain volatile hitting price ratio at lifetime high of 121

Gold, silver, and base metals traded lower on the Multi Commodity Exchange (MCX) on Wednesday. Market sentiment took another hit after the US treasury secretary said the current economic crisis was worse than that of 2008.

Gold and silver remained volatile, with a downward bias. The gold to silver price ratio was trading above 121, a lifetime high, indicating extreme weakness in silver. In the past 10 days, gold has fallen eight per cent and the price of silver by 25 per cent.

At the spot market here, though, standard gold rose 1.6 per cent to close at Rs 40,375