Anyone know why gold's nephew silver didn't make new highs when gold did a few months ago? It's interesting that the GLD/SLV ratio (3rd chart) shot up 63% (5.5-9) through August-October 2009. Is silver late to the party or is gold moving ahead of itself. It does seem like GLD is the anti-fiat money play of choice. What's weird is the correlation spread from 2006. In the 4th chart look how GLD and SLV rallied in lockstep until the 2008 crisis, which widened the price correlation during the reflation move. Technically though, if SLV gets near $19-$20 resistance it could be an interesting breakout play. That's if the deflation whale or Fed doesn't break up the precious metals party. $16 looks like the next support level on $SLV/Silver May future. SLV is trading at $17. I also took a snapshot of Hecla Mining, a small cap silver mine in Idaho (see 2009 action) and it broke above the 50dma recently and is nearing $7 resistance. If the secular precious metals play is still intact, watch silver. Thoughts? For more information on the silver move read: Got Gold Report – COMEX Commercials Halt Silver Advance at news.silverSeek.com. Also, check out medieval silver coins at this museum.