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TFC Commodity Trading Forum

Precious Metals

The precious metals markets have seen shades of breaking down the last week as Gold and Silver got sold off, breaking some key short term support levels. Gold is trading $1,345 and broke the $1,370 on the downside and Silver trades $27.79 after slipping below $29.50. I believe these markets are looking to liquidate further and Gold has huge support at $1,320 so watch this level very carefully. I like this market in the long run as Gold has been positive for 10 straight years but this is just a bit of profit taking and if Gold gets below $1,320 it could see $1,270.