Net Asset Value of Certain Precious Metal Trusts and Funds

SP 500 and NDX December Futures Daily Charts

Yesterday I said:

"This is important support and if the market will find a bottom this is about where it will be.

At the least I think the stock decline may take a pause for the GM IPO. The Street and the government have a vested interest in its success."

So far the script is playing out predictably but let's see how the next two days go. If stocks, gold, and silver can start moving higher again it's game on. If not then hold your chips close and keep an eye on the door.

Gold Daily Chart

Gold was testing its 50 Day Moving Average, which now stands at 1331.89, the last two days. Testing, testing...

If gold and silver can start moving higher again with stocks holding their own it's game on.