Friday, August 9, 2013

A Change in Character

Despite an air pocket earlier in the week, conditions in the precious metals sector continue to improve. Most notably, silver has taken the performance baton and is starting to strongly outperform gold. 
Click image to enlarge
Buttressing this momentum is the swift recovery in the gold miners this week, which as of this morning have recaptured their 50 day sma. Having both silver outperform gold and their respective miners outperform spot prices is a significant change in character for the sector. Onward and upwards.