The silver price and gold price are both up big today in response to the Fed’s QE announcement. Obviously the sector is doing well today. But for the wider macro, in need of inflation/reflation on steroids, something else is really really REALLY important.
The silver/gold ratio stopped crashing last week and gave an inkling as we noted in NFTRH 595. Today it is still just an inkling but an inkling is better than nothing at this point. Call it a potential ‘green shoot’ from the “metallic credit spread” (hat tip Bob Hoye on that term). As for silver itself, it needs to stay on its horse and negate the monthly chart breakdown per Friday’s post if the macro inflation is to catch a bid out ahead.
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