Silver was sharply higher this past week, reaching a high of 36.51 and closing at 36.13, up about 9%! We are moving higher in wave 3, as shown on our Weekly Silver Chart.
That silver is leading is a positive sign. With silver’s fresh gains ahead of gold, the gold/silver ratio that topped out recently at 107.66 has now fallen to 92.
In recent days, thieves cleaned out a Simi Valley jewelry store, making off with millions of dollars in uninsured precious metals, jewelry, and cash in a brazen burglary.
Gold dropped in total 10.8%. But silver fell only 6%... Both patterns are ultimately bullish, but we await a breakout over $3,500 for gold and above $36 for silver.
