Break Downs In Both Gold And Silver Levels

Gold

Gold broke down below the important $1,550 support level this morning in Asian markets. Gold reached a low of $1,534 before finding bargain buyers and quickly rallied back above the $1,540 level. At 11am PT today, Gold is down $4 per ounce, trading at $1,545 on average volume.

Silver

When Gold traded below $1,550, Silver broke down below the $18 level, reaching a low of $17.65 per ounce. Silver needs to move back above $18 per ounce by Friday to keep its short-term bullish trend. At 11am PT today, Silver is trading at $17.79 per ounce, down $0.23 on light volume.