…2017 was just the first year with a small increase after a huge drop off in exploration activity. It may take many years of future increases to get back to where the activity was in 2012, as projected increases in exploration spending are seen to be slow and steady.

When one of the major currencies in the world begins to decline steadily, based on monetary history we would expect a bias toward positive movements in the precious metals.

The great question now is whether the correction that followed was an end to that bull market—or just a lengthy corrective phase prior to another important bullish move. Let’s turn to technical analysis of the chart for a possible answer.

It should come as no surprise that gold and silver acted similarly, rising sharply during the early hours of the crisis and retreating as tensions abated.