Silver Tests Support, Waits on Gold's Signal

Here's an update of a chart of silver I posted a couple weeks ago. You can see see that while silver is testing support right now, it isn't definitely breaking it. This, despite the recent carnage in gold.


(Updated chart)

If I had to bet, I'd say silver is waiting to see if gold breaks below that "must-hold" support at $1,080. 

If gold can hold that support and rally, then silver should be in for a face-ripper to the upside.

The latest silver news ...

• Sales of Gold and Silver at the U.S. Mint Soar in July
•  US Mint replenishes supply of silver and will resume sales of American Eagle coins July 27. 
• Gold Smash Leads to Surge in Demand For #Coins, #Bars  
• Gold Daily and Silver Weekly Charts - Falling, Coiling - The Slow Blues (from the always excellent Jesse)