Approximately one month ago Gold was at, or around, $1,424, and Silver at app. $29.30, more or less today's closing prices. ($1,415 & $29.38)

One can say that we saw a normal price correction and ensuing consolidation setting us up for a further leg up. Allthough that is true, let's not forget that during that last month, the CME imposed not one, but two changes in margins requirements for Silver and one in Gold.

Also, a month or so ago, the US$ index was at app 76 / 77 as compared to 79.2 today. So not only did both metals break even in the previous month but they did so while the US$ rose app 3%.

So allthough similar in prices both PM's have stronger bases which sets up for an even higher leg up in the near future.

Later