Nataly Kambur
⬤ Silver prices posted a strong weekly gain, with SLV climbing nearly 15 percent. Mining stocks didn't follow through with the same strength, creating a clear gap in performance. The Amplify Junior Silver Miners ETF chart shows prices moving higher, but at a much slower pace compared to silver's rapid spike.
⬤ The SILJ chart shows a steady climb that picked up speed through late 2025 into early 2026, pushing toward the upper 30s. The ETF sits above its major moving averages, confirming the uptrend is intact. But the size of the move looks small next to SLV's sharp weekly jump. This gap between the metal and the miners shows that silver-linked equities have lagged during the latest push.
⬤ Momentum readings on the chart are running hot, showing how stretched things have gotten. Volume picked up with price, but SILJ's advance has been gradual rather than explosive. Even with silver's quick rise, mining stocks haven't delivered the same punch, pointing to uneven participation across the sector.
⬤ This split matters because strong commodity rallies typically get backup from related equities. When silver rips higher by 15% without miners confirming the move, it raises questions about balance as the trend gets longer in the tooth. SILJ's underperformance compared to SLV serves as a potential warning flag, underlining why cross-asset confirmation matters more as conditions stretch further.
Nataly Kambur
