The monthly gold chart didn't fail me again. Once again, brown dotted line signalled buy…
... and the 40-day EMA signalled sell:
Gold in euros (weekly) held nicely:
I'm thinking August will be the month to open up more aggressive long positions in the metals, including silver for the first time in a long time. Look at the linear long term daily silver chart. Note we didn't go down all the way to the black line at ~$26 during the latest sell-off. If the ~$22 level isn't hit in the next few weeks, I don't think it will be. Especially since the top of the red dotted descending wedge is now well under $30 and shouldn't be too hard to clear. Of course events will always trump mere charts, but since we can't predict events, going by charts is the best we can do.
Also, the linear gold-silver ratio has hit resistance and is still near 60, a level which I don't think is sustainable.
The "10 yr yields in silver" chart still looks primed for a fall to the bottom of the purple channel, if you ask me.
Note the new support trend lines on the $GOLD:$$CRB and $GOLD:$CCI charts: