As I expected we are starting to see the top pickers coming out of the woodwork as gold's C wave has broken out of the year and a half consolidation.There are multiple signs to look for at C wave tops but one that is pretty dependable is a spike down in the number of oz. of silver it takes to buy one oz. of gold.
As we enter the last couple of months of a C wave rise hot money starts to flow into the more speculative silver market. This is one of the signs that a C wave is nearing an end.
The crash last year depressed the price of silver way beyond what anyone would consider fair value. That mispricing is in the process of correcting. I wouldn't be at all surprised to see the gold:silver ratio spike below 40 when the current C wave tops.
Needless to say this C wave has a long way to go if the currnet gold:silver ratio is any indication.
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