This indicator says silver is undervalued. Why it hasn’t caught up to gold — yet. - MarketWatch

1. Gold continues to outperform silver amid economic uncertainties. 2. Gold-silver ratio remains near historical highs, indicating silver may be undervalued. 3. Silver faces a global deficit for the fifth consecutive year. 4. Moody's downgrade of U.S. credit raises gold's appeal as a safe-haven. 5. Expect price volatility for both metals, with potential for silver appreciation.