Chart of the Day - Thursday, February 13th, 2020

Today's Chart of the Day was shared on Twitter by Jason Perz (@JasonPerz). It's a ratio chart of the Junior Gold Mining ETF, $GDXJ versus the "senior" Gold Mining ETF, $GDX, over the past year. The Junior Miners ($GDXJ) are the smaller, more risky companies involved in precious metals mining while $GDX represents the larger, more established mining companies. When the line is rising, it means the junior miners are outperforming the senior miners. This ratio helps us gauge the risk-appetite for precious metals. As Jason points out, the fact that $GDXJ continues to outperform $GDX is evidence of a risk-on behavior and is bullish for the precious metals space as a whole.