Silver market is at a critical juncture
“Although silver has picked up significantly since its March low it has greatly underperformed gold over the past two years. But this is normal during the earliest stages of a major sector bull market, when gold is favored over silver. On its 20-year chart we can see that silver remains stuck within a giant base pattern that started to form as far back as 2013. This chart makes clear that once gold breaks out to new highs against the dollar, then silver should break out of this base to enter a dynamic advancing phase.”
USAGOLD note: Maund says silver can go either way – and that its plight is dependent on exogenous factors like the direction of the stock market, gold, and Fed policy.
Repost from 7-5-2020