RAID! Gold & Silver Smashed to $1400 & $26 Handle!

Gold and silver were greeted with a classic COMEX open waterfall smash this morning, with gold smashed through support at $1550 and down a massive $35 to $1525, and silver down a full dollar to $26.64!
The smash has gold trading back at July 2011 levels, prior to the US downgrade, QE2, QE3, and QE4!

*Update: free-fall 2nd leg of smash in progress,  silver breaks $26.50 to $26.14, gold breaks $1500 with a 14 handle at $1495!

Silver smashed to a $26 handle:

silver

 

*Update: silver rolling over again towards $26:

silver

 

And gold smashed through support at $1550 back to the lows for the entire correction at $1525:

gold

 

*2nd leg of raid sends gold to $1400 handle:

gold

The rest of today’s trading will be extremely critical for gold as $1525 must hold as a double-bottom or else we are looking gold with a $1400 handle with $1450 coming into play.

The raid, as witnessed by a local:

http://www.youtube.com/watch?feature=player_embedded&v=uHkR93NedHA