BOTH GOLD AND SILVER SEE SIZEABLE SELL-OFF

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	From Record High $2,484 Gold Drops To $2,366 - Bears Looking For $2,330?
	It is a usual phenomenon that every time Gold makes a new record high, a follow up sell off brings a healthy correction...Sunil Kumar Dixit
	Silver Prices Nears $28 - Amid Fed Speculations And Economic Uncertainties
	Silver prices have continued their descent, trading around $28.04 despite a weakening U.S. dollar....Arslan Butt
	Gold Needs To Hold $2,400 For The Second Week Straight
	Once again, the gold market is ending the week at a critical juncture as it tests crucial support at $2,400 an ounce... Neils Christensen Times
	Understanding The Importance Of Basel III For Gold Owners
	After the banking disaster of 2007-08, a group of financial minsters and senior executives from the largest international banks met... Barry Stuppler

Gold set a new All-Time high of $2,485 per ounce on Thursday July 18th, but within seven days the price dropped to $2,351. Other than a small rally in the U.S. Dollar Index there was no bearish economic indicators released that could have cause this serious of a correction. Last Friday, Gold found bargain buyers after the release of a bullish June Personal Consumption Expenditures (PCE). Gold rallied back from last Thursday’s low of $2,351 per ounce and closed on Friday at $2,385, down $17 for the week.

What caused the recent sell-off in Gold?

A combination of major speculative profit-taking and higher interest rates, plus a stronger U.S. Dollar Index. Long time Gold buyers and Central banks are still buying Gold. I believe Gold will rally back this week and move above that key $2,400 per ounce level.

Today: Gold remains on the downtrend this morning in European and American markets. Gold did briefly rally back above $2,400 per ounce in Asia, but sold-off in European markets. Gold has reached a low of $2,367 before finding bargain buying this morning.

After trading above $31 per ounce two weeks ago, Silver has dropped over $3, below the $28 per ounce support level. Most of that correction was due to the $100 slide in the Gold price, but due to the summer months, physical demand for popular Silver investment coins and bars has fallen in Asia, Europe, and the U.S. Silver closed on Friday at $27.86 per ounce, down $1.28 for the week.

Silver at the current price level is an extraordinary value and premiums on Silver Eagles, Maple Leafs, and trade units are at the lowest price in the past six months. The Silver-to-Gold ratio moved higher last week to 85-to-1, the best it has been in the past two months, an excellent time to own more Silver.

Today: Early this morning, Silver reached a high of $28.25 per ounce on strong buying in Asian markets. However, as precious metal trading moved into European there were sellers. In the U.S. Silver reached a low of $27.27 before seeing serious buying.

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