#gold silver ratio

Silver did something worth noting overnight. Gold fell 1.35%, but silver only lost 0.17% to 51.484, and the gold-silver ratio compressed from 78.27 on 11 November to 77.39. Gold is being drained by the rate story; silver found buyers. Those buyers are watching a different channel: the Nasdaq gained 1.6% overnight, and the solar, electronics and industrial demand narrative came back to life. Silver is still capped by the same rate logic as gold, but the industrial side gave it a floor. Levels: support at 51.43 (this morning's low) and 51.10 (the 10 November low, the base of this move). To the upside, 53.17 was tested overnight and rejected, so that ceiling still holds. A ratio near 77 is worth watching; when the ratio compresses, silver is usually the one standing up first. Structural projection, not investment advice, no return guarantee