While gold and silver are oversold both markets lack fundamental justification to withstand constant bearish pressure flowing from treasury and currency market action.

Certainly, short-term technical indicators in gold and silver are dramatically oversold with declines of $37 in gold in eight trading sessions and declines of three dollars in silver in just three trading sessions.

However, the breath of the bearishness toward gold is justified with the market potentially (according to Reuters) poised to post the longest consecutive daily losing streak in seven years today...[MORE]

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