Silver Shines as Goldman Sachs Dims – Ep. 160

* Hi-Ho Silver! Seems to be the rallying cry for the day * The last podcast I recorded I talked about the breakout in silver and I actually regretted the fact that I didn't get a chance to talk about silver during my CNBC interview * On my last podcast I mentioned how strong silver had been looking and it held up extremely well in the gold selloff during the prior few days * Sure enough, we had a big breakout again today * Silver was above $17 earlier today, the first time it has been that high all year * Gold is still well below the highs, it needs to rally about $30 to get back to its high for this move * I mentioned on the last podcast that I though the strength in silver was a good leading indicator for both gold and silver * And I talked about all the traders who have been shorting silver, that had been a popular trade when the gold and silver ratio was breaking down, I thought that it made no sense to short silver * To me it was a much better trade to buy silver when it's as cheap as it's ever been relative to gold * This is good constructive action, in fact, the gold stocks are at new highs for the year * The GDX, as I speak, is up 4% on the day; it's above $23 - this is the high for the year * The juniors, GDXJ, that index is up over 6% -  today! This is a new 52-week high   Our Sponsors:* Check out Chilipad and use my code GOLD for a great deal: https://sleep.me* Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com* Check out Plaud AI and use my code GOLD for a great deal: https://plaud.ai* Check out Quince and use my code quince.com/gold for a great deal: https://www.quince.com* Check out Quince and use my code quince.com/gold for a great deal: https://www.quince.com* Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.comPrivacy & Opt-Out: https://redcircle.com/privacy