Gold has been making new all-time highs consistently since March and now Silver looks like it wants to join in on the fun.
I think there is a major catchup trade brewing as silver threatens to resolve this multi-year basing pattern. In fact, it looks like it may already be underway.
Today it rallied nearly 5%, marking its best day since May, and closed at its highest level in over 10 years.
I love to see this kind of momentum on breakouts.
I also think gold has given us a beautiful roadmap for where silver is headed next.
The chart below shows the historical correlation between gold and silver.
As you can see, the two metals tend to move together, peaking and bottoming around the same time.
They also tend to follow similar patterns, just like the multi-year ranges that formed starting at the 2020 highs.
Gold already resolved higher back in the first quarter and is up about 27% since.
Silver is resolving higher as we speak.
Considering the higher beta that silver carries, we think there's plenty room for upside from here.
We're buying silver and making the bet that gold's crazy cousin is about to embark on a massive catchup rally.
We put a trade on a small-cap silver miner for Breakout Multiplier Members today! I think we'll put on another one tomorrow looking out over longer timeframes.
That's how much we like silver right now.
You can sign up and get access to both of these trades HERE.
