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Silver Bull Market Starting? Watch This Rare Bullish Signal

Published 21/05/2024, 20:47

When we discuss bull markets and areas of leadership, we usually point to out-performance.

We’ve been writing a lot about precious metals lately, and today we look at Silver.

Silver Vs. SPX Monthly Chart

Two things we love to see: Silver out-performing Gold (sign of risk-on), and precious metals out-performing the stock market (leadership and prospect of a Silver bull market starting).

Today’s long-term “monthly” chart looks at the performance ratio of Silver to the S&P 500 Index. Silver bulls want to see this ratio heading higher. And lately it has been.

In fact, if we look closer we can see a potential breakout of Silver/S&P 500 ratio taking place this month.

The last time this took place from oversold conditions, Silver rallied 16x (from $3 to $50). Is another Silver bull market starting? Stay tuned.

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