The Phaserl


Silver Confirms Gold’s Breakout

by Jason Hamlin, Counting Pips:

As of yesterday, gold had advanced roughly $100 in 2014 for a gain of 8.3%. Silver was up $1.00 in the same time period for a smaller gain of around 5%.

It is rare to see silver underperform gold, as it usually offers leverage in either direction to the movement of the gold price.

This failure of silver to breakout to the same degree as gold was concerning many precious metals investors. However, the price appreciation was coming against the backdrop of a sharp correction in the stock market and overall economic weakness, so it made sense that silver would be underperforming initially. After all, roughly 50% of silver’s demand is industrial versus only around 10% for gold.

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