Patrick Karim: Oil typically sells at a premium to silver on yearly or quarterly closes

Patrick Karim: Oil typically sells at a premium to silver on yearly or quarterly closes
Oil often closes above silver premium

Oil is usually sold at a premium to silver on a yearly or even quarterly close basis, according to Patrick Karim, a technical analyst at Technical Traders Ltd.

Patrick Karim recently said that gold continues to struggle against stock markets and may need more time to break out, according to a June note by Technical Traders Ltd here. He has also suggested that silver could take up to two years to surpass its $95 monthly all-time highs in a separate report. Both views reflect his cautious outlook on precious metals’ ability to establish new highs in the near term.

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