Gold-silver ratio, March 11 -- After a dramatic start to the year, the gold-silver ratio is entering a new phase. Silver's blistering rally pushed the gold-silver ratio down to nearly 40 levels rarely seen in recent years, signalling one of the strongest periods of outperformance by the white metal.

But the momentum did not last. A sharp correction in bullion prices toward the end of January hit silver harder than gold, quickly driving the ratio back above 60.

The geopolitical tensions in the Middle East have once again brought back the limelight on the gold and silver prices. The past two weeks of market data suggest that while both metals failed to generate any returns for investors amid rising geopolitical uncertainty, the steeper fa...