Gold’s rally to six-year highs has left silver behind, with fund managers repositioning their exposure to gold amid dovish global monetary policies, trade concerns, and rising geopolitical tensions, according to BMO Capital Markets. “The gold:silver ratio no longer has much relevance. With gold prices running hard, we have received many questions as to what this means for silver. In our view, while gold continues to receive ‘annuity’ demand from macro asset allocation trends, silver does not, and until this changes we may be looking at a growing disparity over time,” said Colin Hamilton, BMO Capital Markets managing ... (full story)