The Silver to Gold Ratio continues to narrow with the ratio now down to 36 to 1. This ratio needs to increase in size to suggest the speculative strength in precious metals is topping out. In other words Silver needs to start underperforming Gold for starters. Price doesn't have to fall to do this. Just a stronger Gold than Silver will begin to reverse this speculative trend. So far no weakness has been seen to speak of.

Seasonal trends in precious metals tend to be choppy with lower highs and lower lows from March into a summer low. This is the time of year Gold bugs tend get blown away with all the false starts, sell offs and sideways ups and downs into summer.