Metals

Both gold and silver are flirting with key numbers for today’s close. In gold it is 1405 and in silver it is 23.21. Closings BELOW these numbers today leave these markets still vulnerable to a further drop for the next 2 weeks. Keep in mind that the intraday low was Tuesday in gold at 1321.5. So all we have is a 3 day reaction since then. We need to continue to rally for a brief pause or we may just go into meltdown mode.