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93 Ounces of Silver for One Ounce of Gold
I think the most interesting development today in the market was in the metals market. I've been talking on the podcast for some time about the spread between gold and silver, and the fact that silver has never been this cheap, in terms of gold. The spread got to almost 93:1, where you can buy 93 ounces of silver for one ounce of gold - which is incredibly cheap.
Some Silver Stocks up 10% or More on the Day
It's a great time to be buying silver, and I've really been pounding the table on people buying silver. I recommended it again last night last night on my live YouTube event, I recommended it to my Managed Account clients on our last webinar, encouraging people to contact their brokers and maybe buy more silver stocks. In fact we had silver stocks today; some stocks up 10% or more on the day. Very, very significant jump up in the price of silver stocks, even thought the price of silver itself did not have that big a move. It was only up 19 cents.
Silver Up as Price of Gold Fell
But the significance of the move is that gold was down $8. So not only did silver have a relatively large move, although not large enough to normally cause silver stock to rise by 10%, but what was significant about it was that it rose as the price of gold was falling. This could signal - and it was looking to me technically that we saw some indications of this last week (I added to my own silver stocks last week - but it looked to me like this trend was about to change. We're still above 90:1. We're close to getting back to 90:1 even. But this is still an incredibly good opportunity to buy physical silver; to buy silver oriented stocks. But what I think this is showing me is that the bull market in gold is getting ready to kick into a higher gear.

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