by Alasdair MacLeod
Gold consolidated further this week at the $1800 level while silver gained ground in volatile markets. By morning trade in Europe, gold was up $5 from last Friday’s close at $1803. Over the same time-frame silver gained a net 45 cents to $19.11, having been as high as $19.47 on Wednesday.
Silver is beginning to catch gold up, as our headline chart indicates, and the gold/silver ratio has declined to 94.4, shown below.
[…] It appears to have made a major turning point, indicating silver is in a new bull market priced in gold. The next chart point is 80, from which the relative silver price collapsed last September.