Watch The Silver/Gold Ratio Very Closely Here (GLD)

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June 8, 2018 6:13am NYSE:GLD

Technical analyst Chris Kimble examines the silver/gold ratio and finds reason to be optimistic for both precious metals.

Above looks at the Silver/Gold ratio over the past 18-years.

Three different times the ratio hit support alone line (1) and turned higher, sending a positive message to Silver and Gold.

The ratio hit 15-year support again a couple of months ago, which appears to have held.

Last month and this month the ratio is pushing higher and is now attempting a breakout at (2). A push higher by this ratio is a positive for both Silver and Gold.

If charting and actionable ideas on Gold, Silver, Mining stocks and Copper are of interest to you, we would be honored if you were a Metals Member.

The SPDR Gold Trust ETF (GLD) rose $0.25 (+0.20%) in premarket trading Friday. Year-to-date, GLD has declined -0.64%, versus a 4.35% rise in the benchmark S&P 500 index during the same period.

GLD currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 32 ETFs in the Precious Metals ETFs category.

This article is brought to you courtesy of Kimble Charting Solutions.

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