US dollar index down, Gold/Silver ratio up

Despite my intention to leave you alone…

“Oops, I did it again”… or “if you see something, say something”.

:-)

I saw something. So a quick note that the 2001-2004 corollary is in play today in microcosm. Ref. NFTRH 850 for more detail, but in that phase the Gold/Silver ratio (GSR) bulled, the US dollar dropped and the gold miners performed well, despite the rising GSR and a bear market in broad stocks.

Today, USD is again under pressure, but still at support.

GSR is grinding the resistance of the previous high, up a bit today, and still bull biased.

The big picture chart instructs a wider angle view about what went on back in 2001-2004. Both the HUI/Gold ratio and nominal HUI rose. Huey bulled by some 300+%.

It’s a “what if?” update about what we’d look for if today’s micro view expands to new long-term trends.

Back to the sidelines now.