Gold and silver are short term oversold, and *may* be putting in a bottom here, at least for the short term. The technical measures are shown on the first two charts.
Silver has been underperforming gold on this latest move later. But that is typically what an asset with a higher beta does. It underperforms on the dips, and overperforms on the rallies.
Gold and the SP 500 have turned in a similar performance year-to-date as shown on the third chart.
The gold/silver ratio is high as you can see on the fourth chart, but it seems to have been trending higher for some time now as gold and silver have been in a corrective pattern.
If a precious metal rally returns, that should change as silver obtains greater traction to the upside.
