Silver remains the canary for other commodity plays

Both silver and oil came off hard in recent weeks, and silver’s better-looking sister gold had a bit of an issue as well.

Silver has been a very good leading indicator since SLV (quote) topped out in early May:

It is interesting that volatility in silver had calmed down a bit before the latest downside action.

And as for gold, GLD (quote) has had its own difficulties, but held its key supports.

Once again, gold is a stronger situation all around.