Gold-to-Silver ratio

Tom Dyson: "Silver has never been cheaper relative to gold. The closest it came was in February of 1991, when the gold/silver ratio briefly went over 100. That was during the first Iraq war, when gold got a ‘safe-haven’ bid. Silver, as an industrial metal, fell behind.

"On February 20 of this year, the gold/silver ratio was at 95.91. That day, the stock market peaked. Since then, gold has risen as a monetary asset. Meanwhile, silver has fallen as an industrial commodity. That relationship is the huge spike you see below. The blow-out is extreme. Something has to give. Either gold has overdone it, or silver is due for a huge rally."