The Relentless Gold & Silver Smash

The relentless smash of gold and silver prices continued Wednesday.  
Is the End in Sight or Has the Washout Only Begun?

 

The relentless smash of gold and silver prices continued Wednesday. 
Gold was down another $10 to $1245, finally breaking below significant support at $1250. 

Silver prices were smashed another 40 cents to $16.45, now a full $2 below recent highs near $18.60.  
The all time record open interest in silver and massive commercial short positions in the COT report was indicating a cartel slam was coming, and come it has.  

Adding to the downside fuel is the Fed, which is apparently preparing to unleash another rate hike in June, regardless of economic conditions. 

The metals have stabilized in the wake of the FOMC statement’s 2pm EST release, and we are looking for a bottom in both metals over the next 48 hours as an excellent entry point opportunity. 

Subscribe for Free to the SD YouTube Channel