It has been a while since we have had a look at this.
It is odd to see the relative 'bearishness' on silver.
The gold/silver ratio is very high, and the discount on PSLV is more than normal.
All things being equal, silver would seem to be a screaming buy here.
However, this may highlight that gold is being favored as a 'flight to safety' asset, and that there are deep underlying concerns about the US economy and financial system.
As a reminder there will be a precious metals options expiration on the Comex this Thursday the 22nd of February.
