Silver just outperformed Gold and registered 2 months high.
This is its biggest jump in 3 weeks and now it is near its 100DMA.
Still however, the precious metal is significally down notably from its Q1 swing. On the other side, oil priced in ounces of silver has seen a very narrow range of values since Bernanke’s Jackson Hole speech in 2010 (QE2), when money-printing went full retard; and very recently the price of oil in silver had reached the upper end of that channel – and is now reverting.
Moreover, the second, recent outperformance of silver over Gold has reverted the gold/silver ratio to its post-Bretton-Woods (1971) average at around 56x (up from a recent low of around 32x in April 2011).