Price action on the gold/silver ratio suggests a correction could be underway, to Silver’s advantage. It goes without saying that gold has had a stellar couple of months and, given the backdrop of global negative yields and the potential for a Fed easing cycle (even though they currently deny this), we expect gold’s trend to push higher as the year develops. Indeed, it was the June Fed meeting which saw gold explode to new highs and break key resistance, which suggests dominant momentum has realigned with its longer-term secular trend. If that is the case, we’d also expect record new highs over the coming years. The ... (full story)