Gold is on the precipice of breaking below it’s 50 day mvga and if silver follows along (still some distance above) the correction will definitely last longer than originally expected.(not all bad news) I have stated in both posts and comments to others posts that I first thought the correction would be short but sharp, which is how it began. I then said it looks like the correction has morphed into a more drawn out but less steep phase. That is where we are now and if gold and silver, possibly as well, break their respective 50 day mvags. the correction is likely to last for a couple of more months. The reason it is not all bad is that fits into the seasonal pattern I mentioned in yesterday’s post and would have completely worked off the extreme overbought condition brought about by the sharp run up into the early August highs. This gives us the best of both worlds. A great low risk buying opportunity with a strong base that will lead to much higher prices. This Thanksgiving will be truly a time to be thankful!