This sounds awful, silver down 30%, gold down 11%, but it just brings them back to the 50 day moving average. It doesn't even break the bull trend.

Next week we'll find out if this was a buy on dip opportunity or if it marks a multi-year top in precious metals and the start of a deeper correction and real technical damage.

One day that will happen and the trend will reverse, but it's always more probable that a trend continues.