Gold & Silver Breakdown Below Key Support Levels

GOLD

It was reported this morning that the Chinese economy is slowing and the recovery is losing momentum. This news is affecting precious metal demand and we saw a sell-off this morning. Gold dropped to $1,930 during Asian trading this morning before finding bargain buying. At 11am PT today, Gold is trading at $1,937, down $18 on average volume.

SILVER

Silver followed Gold lower this morning during Asian trading. This Silver price broke down this morning during Asian trading, reaching a low of $23.04 before finding buyers. At 11am PT today, Silver is down $0.82 per ounce, trading at $23.18 on normal volume.