It was about two weeks ago where I said I wouldn’t be buying gold here because I thought we would see a $100-$150 correction before attacking the all time highs for gold. Of course my suggested catalyst(excuse) of why we might have such a pullback was a possible ceasefire in the Ukraine war which has not happened, at least yet. The point was we were overbought and due for a correction and we got it. Doesn’t matter what did or didn’t cause it, it was going to happen regardless. My thought that silver would somehow avoid the same fate was wishful thinking but foolish on my part. The good news is that the worst part of the correction is behind us. There could be a little more downside because both metals could technically fall to mvg avgs. gold to it’s 50 day and silver to it’s 100 day, but I don’t believe they will. Since today is Wednesday I wouldn’t be surprised if we give back this morning’s early gains and a quiet sideways rest is likely for the rest of this week. When you are at this stage of a correction in the metals, it usually takes a considerable period of time before they are ready for the next leg higher. I don’t believe that will be the case here. Given the fact that this is going to be the breakout phase for both gold and silver, and that the charts are where they are, it is unlikely that this setup waits for everyone who wants to get aboard to do so. If this is going to be the strong bull that I and some others believe, it is going to run and make those who aren’t in, have to pay up to do so. Take advantage of the quiet while it lasts, it won’t be for long.