After analysing the Gold/Silver ratio monthly chart, it is clear to anybody that the trend is down during this secular gold and silver bull market, notwithstanding it is recently up (past 2 years) within the down trend. If my thesis is correct, it is my opinion that silver will do much better than gold in percentage points term during the next phase of the bull market. To give some perspective, if gold indeed reaches a target of between $3500-$5000/ounce mark at the end of this bull market, with a gold/silver ratio of 15, silver will be trading around $230-$330/ounce mark. That's an approx. 150%-260% upside in gold from current levels and approx. 940%-1390% upside in silver! Silver clearly outperforming gold!
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