Precious Metals Pounded Into European Close - Break Below Key Technical Levels

Precious metals are being pounded once again this morning as we head into the European close.

Gold has broken below the 50-day moving average and the key 'maginot' line of $1200 - lowest since January. Silver, similarly, has broken below its key technical levels and is testing the $17 level.

 

For now they are findiong some support at these key levels...

 

As USDJPY fades

 

Notably Gold is once again outperforming Silver (back above 70x) with 68x seemingly support for this ratio...