It seems that the weakness in silver can be partly attributed to the gold/silver ratio traders. The weekly ratio chart can be viewed at stockcharts.com by keying in $gold:$silver. With current prices of the metals today, one ounce of gold buys you 68.10 ounces of silver. Although the chart is still speaking in a positive tone for gold over silver, the amounts of silver ounces that you can exchange for gold are getting predominantly less and less on rallies from the high point of 93.50 reached in October of 2008:

84 - November/2008

76 - February/2009

73 - June/2009

74- February/2010

and today, so far

68.10 - May/2010

It doesn't appear technically unwarranted for the ratio sellers of silver in here to be leaning on it as the current ratio in favor of gold has etched out recent ascending bottoms of: 56, 59 and 61. Also adding to the confidence to sell silver is the fact that the 200 day moving average continues to ascend keeping the ratio pressure on silver at 59.29. Today, the flattening out 50 day average was traded through to the upside at 64.58 in gold's favor at silver's expense.

It could possibly prove to be a mistake considering the continuing positive tone of the chart to in favor of gold, but each time the 70 exchange rate area for ounces of silver is approached, more coins are accumulated. Today, my son is in Mexico buying Libertads for me at reduced prices compared to what they are available at here in the U.S. or on e-Bay.

An important question in this pro gold environment on the ratio chart is: Are the declining tops signalling that the 200 day average is close to maturation and losing its staying power against silver? Time will only tell. Once and if silver takes the lead, you can count on some pretty serious fireworks to follow effecting everything with a silver label on it.