Silver Smashed Below $29, Gold to $1600

Gold and especially silver have be absolutely pummeled this morning, not coincidentally, with the major smashes commencing EXACTLY with the 8:20 COMEX open.
Silver has been smashed another $2 to $28.74.  Now that $30 and even $29 have been taken out, it appears likely that silver will retest its overnight low for the correction near $26.05.  $26 needs to hold or silver will test $20-$22.  It is clear that the cartel is using the panic over Europe/ MF Global to continue their SOP in both precious metals.

MARKET IS OPEN (Will close in 7 hrs. 45 mins.)
		Metals	Date			Ask	Change		Low	High
		GOLD	12/14/2011			1611.10	-20.80	-1.28%	1605.10	1632.50
		SILVER	12/14/2011			29.19	-1.75	-5.67%	28.74	30.25