Silver is oversold however the price could reach down to $ 27.50 for the Bullion purchasers. Fundamentally there is no reason for any drop past that level. That is strong support area. Gold is supported at $ 1550.00. Best wait and let it settle down. Next post will be on the most recent costs of Mining Gold and Silver.
Paper Trading in precious metals like stocks is manipulated. Stop losses get taken out and the holders lose their position. This is typical action. Once the stops are taken out the traders have their position for another run up. The drop has nothing to do actual physical metals. It`s all paper trading.
Any other rational couldn`t explain why countries are accumulating Gold and Silver ?
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