Gold is still outperforming silver by quite a bit with the ratio at 65 to 1.
I think that is either the sign of a developing bottom, with the high beta of silver not yet having kicked in with the return of positive sentiment, or possibly that this is more of a 'flight to safety' phenomenon.
A third possibility is that gold is starting to show the effects of a squeeze on physical supply.
Sales of silver eagles are certainly robust.
