Silver is down almost 3% today – its biggest drop since the end of January as precious metals both tumble back towards pre-June-FOMC levels. News on China demand appears to be the main catalyst according to desk chatter (as well as a break through the key 50-day and 100-day moving-averages) with gold testing down to its 200-day moving average at $1286.
Worst day for Silver in 6 months…
Precious metals are reatracing gains from the June FOMC… (and testing technical levels)
Charts: Bloomberg
via Zero Hedge http://ift.tt/1pMLMh0 Tyler Durden