Silver is outpacing gold during a war. The gold silver ratio just hit 62.

gold is at 4598. silver at 73. the ratio between them is 62 and falling which is historically compressed. in a pure safe haven panic gold leads and the ratio expands. when silver leads and the ratio compresses it usually means industrial demand is part of the bid.

silver has a dual identity. half the demand is industrial, half is monetary. when both sides bid at the same time you get moves like this. gold up 40 percent year over year. silver up even more.

the ratio matters because it tells you what KIND of move youre in. pure fear = gold leads, ratio rises. structural commodity repricing = silver leads, ratio compresses. right now were in the second one and most people watching gold havent noticed.