Silver/Gold Ratio playing ball with the macro bounce

It makes sense since I am on record as expecting an off the hook inflationary phase once we finish up with the deflation scare that is herding everyone the way deflation scares do.

Now, the Silver/Gold ratio is only in bounce mode but nominal silver has held intact (above 14) and we are in the depths of another scare, with the US on notice about the next two devastating weeks dealing with accelerating cases of COVID-19.

When the news simply can’t get any worse, well, you know. The low for the ratio and for inflation expectations, could be in. You never know. Best not to expect so, but best to have an open mind as well. The last two major deflationary episodes duped the herds and I expect this one to ultimately be no different.

silver gold ratio

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