drowsy syrups of the world

Chart of the day is…

…the gold/silver ratio (GSR):
I find it nothing short of fascinating that silver hasn’t managed to claw back even an inch of all the ground it’s lost on gold during the rebound rally of the last couple of weeks. The GSR has been this high before, but only on spikes and the 70X and above we’ve seen since October last year (!!) is now a new normal. 

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