Should gold bulls worry after XAU/XAG ratio broke a keyresistance 8-mth resistance? Yesterday's metals move was another poignant reminder that silver usually falls faster than gold during metals fears of faster rate hikes. The opposite also usually happens--silver's gain outpace those of gold during metals rallies. This relationship is best seen via the Gold/Silver ratio, which rallies during metals selloffs and DXY rallies. The chart below shows the G/S ratio broke above the horizontal resistance to mean that silver is at its highest level vs gold in more than 10 months. Although XAUUSD and XAGUSD continue to respect their trendline support, could the breakout in G/S ratio imply a signal of upcoming metals pain? Note DXY is struggling to break above its 200-WEEK MA while EURUSD is doing the same to its own 200-WMA (from a support standpoint).
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