Precious metals look ready for their next leg up.

During major precious metals bull runs, silver typically leads gold. That is precisely what is happening right now.  

The below chart shows the ratio between silver and gold. When silver outperforms gold, this chart rallies. When gold outperforms silver this chart falls. As you can see in the below chart, this ratio has broken out of a triangle formation to the upside.

This signals that we have likely entered a new period in which silver will outperform gold dramatically. And it is overall bullish for all precious metals.

With that in mind, I would note that silver has broken out of its own triangle formation.  The next upside target here is $28 if not $30 per ounce.

Gold has yet to follow suit. It has managed to break above one of the resistance lines of a complicated bull flag formation. However, it has yet to clear the second and final line of resistance. Once it does that, the upside target is $2,000 per ounce if not new all-time highs.

However, both gold and silver’s recent runs pale in comparison to that of platinum. That precious metal began a bull run in November and hasn’t looked back.

And by the look of the long-term chart, platinum is about to experience a truly SHOCKING move. The precious metal has only just ended its 10+ year bear market.

The below chart overlaying gold and platinum speaks for itself. Suffice to say, platinum has plenty of catching up to do. This recent breakout is likely the start of a “catch up” move that will blow your socks off.

Those investors who are well-positioned to profit from it could see literal fortunes.