Gold building gains, Silver still lagging

With the 'Yellen era' now well underway, the precious metals continue to battle upward. Gold and Silver both closed with somewhat significant gains of 1.2% and 0.8% respectively. Near term outlook is bullish, but the broader monthly cycles remain bearish.


GLD, daily

SLV, daily

Summary

Perhaps most notable, the divergence between Gold and Silver. Normally, Silver will move a factor of 1.5 to 2.0x the move in Gold. Lately, Gold is actually moving 1.5x the rate of Silver.

Silver is clearly more industrial in nature, but I have to think this unusual ratio is a problem for those who are expecting some kind of hyper 2014 gains for the metals.
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Near term trend is clearly bullish, although Silver remains under old broken support (SLV 19.50/20.00 zone).

Mid-term outlook remains bearish.