Silver (XAG/USD) is just not having it

Yesterday Gold staged another comeback and that saw the yellow metal recover an earlier low at $3,963.77. Gold rose as high as $4,044.05 just after the European close. However, despite that rebound, Silver did not keep pace. Granted, it did briefly rebound as high as $59.02, but since then it has turned lower again. So, as things stand, it looks like $60 is a bridge too far at the moment. 

Yesterday we noted how this metal really needs to hold onto levels around $50 per ounce, or else it could seriously question the multi-decade breakout that took it above that level last year. So, this morning it has once again notably underperformed versus Gold, notwithstanding the fact that Gold is also lower this morning. Silver peaked at $58.05 earlier in the Asian session and it has since fallen back as low as $55.71. It is currently trading at $56.47