Gold futures, 5 minute chart, something is pushing it hard about 1 hour ago. News or maybe the fact just breaking through the 1880 level resistance?? At about 8 month high atm.
Currently the majority of gold and silver stocks above MA50, Maybe 50/50 gold stocks over MA200 but silver is lagging considerably. Gold stocks today very strong, silver lacking enthusiasm atm. Crypto getting hammered!
Whats intriguing, silver being so lethargic, can't work out what its problem is. Always some f***n problem.
My observation, once a precious metals bull or bear market is truly underway, 2:1 silver to gold. Currently less than 1:1.
Once gold starts moving, people jump into buy. There becomes a scramble and those who feel left out (missed the boat) jump into silver quickly. That's what I think saw in the late 70's during inflation...
I just happened by chance to plot MA200 on silver chart. Be interesting to see if it changes its behaviour should it get above.