Again the US$ rallied and gold held in nicely. The gold chart doesn't look like a buy to me but I like the relative strength of gold today.
PJ - Your post sent me scurrying to look at the silver chart (I don't usually follow silver). I noticed that in multiple time frames silver is underperforming gold. My hunch, is that silver rallies better in an expanding economic environment with inflation bubbling up (copper even more so). Gold, as happened from 2009-2011 performs better in a low interest rate environment. (If one can't earn money in a bank, might as well put it in gold) Low growth and low interest rates are in the news of late...
"I noticed that in multiple time frames silver is underperforming gold."
In general I agree with you and it's certainly been happening recently.
But re: "My hunch, is that silver rallies better in an expanding economic environment with inflation bubbling up (copper even more so). Gold, as happened from 2009-2011 performs better in a low interest rate environment."
From the lows in '09 to the highs in '11. Silver went from $10.50 to about $50, a 470% increase. Gold went from $810 to about $1900, a 235% increase, so only about half of what silver went up.