Today's Chart of the Day was shared on Twitter by our very own Steve Strazza (@sstrazza). It's a chart of the Silver/Gold ratio. This is a popular risk-on/risk-off gauge for Precious Metals. When the line is rising, it means Silver is outperforming Gold. Silver is perceived to be more volatile and aggressive than Gold. Therefore, when Silver is outperforming Gold, it indicates risk appetite for Precious Metals. Gold and Silver screamed higher today. Gold futures rallied 1.09%, and Silver futures surged 4.85%. Steve points out that this ratio is "ripping higher from a failed breakdown." This is exactly how Silver should act when Precious Metals are in a bull market.
Chart of the Day - Monday, September 23rd, 2019
September 23, 2019
