Loading ...… and other related stock to precious metals ratios are bouncing … that’s why gold is getting whacked.
Silver is relatively strong due to short covering which won’t last … don’t be fooled.
The Gold/Silver Ratio could make a profound double top at 130 once the shorts finish covering. Only a weekly close below 100 would case this view to come into question. Weakness in the broader equity complex should force gold and silver lower in coming weeks, where a lasting bottom should not be expected until Fall – like the year 2000.
A temporary bounce should come in June. (Likely due to a Fed panic and bounce in the equity complex.)
For what it’s worth