Silver and gold sold off hard this afternoon. The surprising part was that gold was allowed to generate headlines making new all-time highs, and silver shot well north of $38 before the takedown commenced.
Gold sold off sharply, temporarily stabilizing near $1435 before dropping further to $1430.
As long as gold can stay above the $1420-$1425 zone we won't have suffered any long term damage on the charts. Silver was sent back down all the way to yesterday's highs near $37.25 before finding strong buying support.
As always we welcome smashdowns and greet them with open arms and our pocketbooks.
Buy the dip people!
