Per the view that you looked at, ie over the duration of the day, your observation is sound.
I was looking at a bit different view, trying to understand exactly what was happening as the bell wrung on the the Swiss news.
At 2:00 am yesterday the Euro rocketed (ie EUR/USD cross rose), the dollar tanked, and gold tanked.
That was the trigger that technically set the tone on the rest of the day.
Later as the day progressed, the Euro tanked, the dollar rose and gold continued down.
That 2:00am bushwack of gold was the unusual thing based on what the currencies did. With the US dollar falling, people went to the Euro instead of gold? huh? am I missing something. I think the govt's shut gold down at 2 am because govt can't have gold best their paper money.
Whereas the currencies changed course later in the day, gold continued down.
I think you're right on gold being the better play based solely on looking at the Au:Ag ratio. The ratio just broke above the 200 day moving average a month ago and looks to be basing for an upward move. a lot of indicators seem to confirm this except a few.
Silver currently is within a very large bull pattern. 43.37 is the impediment price toward 47.95.
I have trouble believing that gold and silver can be taken down here, and for the last several days silver showed strength relative to gold that was very encouraging despite the ratio. I feel I might be letting my emotions get in the way though.
I see your point. That "2:00 a.m. bushwack of gold" as you aptly put it was suspicious looking.
Thanks for your perspective on gold vs. silver. I plan to put the money from the AGQ I sold into gold instead of silver, giving me a balance of the two instead of just silver. Probably that's MY emotions affecting me, but I want to lessen my exposure to silver.