Four Silver vs Gold mining ETF ratios are currently testing support at multiyear trendlines.

Looking at the behavior of these four ETF ratios during the first half of 2016 (when Gold price surged 30% from 1,060 to 1,375; and Silver price surged 52% from 13.80 to 21), we can infer the following trends about Precious Metals miners during bullish market periods like H1 2016:
1) Silver mining stocks outperform Gold mining stocks
2) Junior mining stocks outperform senior mining stocks

I feel the most confident about the first ratio (SIL vs GDX; the key trendline is longer than in the other three ratios). -Harry

PS: The Who – Quadrophenia