From the desk of Louis Sykes @haumicharts
Whenever we want to gauge animal spirits in the precious metals space, we resort to our trusty intermarket ratios.
Two weeks ago in our Gold report, we covered the notable bounce we were witnessing in the Silver/Gold ratio, pointing to brewing risk appetite within this space. And this week, we outlined a bullish trade in the iShares Silver ETF off the back of this recent momentum.
But when we take this relationship one step further, we see a similar situation in the relationship between Silver and Gold mining stocks.