Silver Market update
By : Clive Maund
CliveMaund.com
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The performance of silver this year relative to gold has been paradoxical - on the one hand it has outperformed gold, while on the other it has yet to make new highs. The explanation for this behaviour is of course the fact that silver got trashed last year during the general market meltdown, when it dropped in percentage terms much more than gold, and thus this year it has had much more ground to make up. This brings us immediately to the important issue of why silver has underperformed gold so markedly in recent weeks, and what this implies. As we will soon see the explanation is actually rather simple.
But first we will examine silver's recent performance on its year-to-date chart. On this chart we can see that while gold has been forging ahead in recent weeks, silver has bogged down at a level where there is obviously considerable resistance, and a bearish looking potential Head-and-Shoulders top h...
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