Precious metals investors are once again excited about silver as the price has shot up 10% in the past month. Not only has silver experienced some nice gains in July, but it has also broken out above its multi-year Symmetrical Triangle Formation. But, what is the current silver market price action telling us about where the shiny metal goes from here? While we have seen some nice daily moves in the silver price, it seems to be peaking around that $16.60 area for the past week. Currently, the silver price is trading at $16.62 at midday.

Furthermore, the silver price has outperformed gold, pulling the Gold-Silver Ratio down from 95/1 at the beginning of July to 85/1 today. Which means, in just a few short weeks, one ounce of gold can now only buy 85 ounces of silver compared to 95 oz two weeks ago. Talk about a significant change in the Gold-Silver Ratio in a relatively short period of ... Read more »