Repost from 6-7-2021
“We’ve seen a strong start to Q2 for silver market, with the metal easily outperforming the S&P-500, as well as the yellow metal. This is a very bullish development given that the strongest periods for precious metals occur when silver is not only outperforming gold but also the S&P-500. In addition, we are now 12 months into a new multi-year breakout for silver, and we are working towards a very similar setup to what we saw in 2005.”
USAGOLD note: 2005 was the year silver then trading in the vicinity of $7.50 per ounce began its historic move to $48 in 2011.
Gold, silver and the Standard & Poor’s 500
(In percent, one year)
Chart courtesy of TradingView.com • • • Click to enlarge