The selling for gold or silver may not be over just yet and the pressure could increase further if market participants grow more confident in foreseeing a rate rise in the United States before the year is out. These buck-denominated and noninterest-bearing assets tend to weaken when yields and the dollar are both rising.
As we have already covered gold in depth, it makes sense to turn our attention on the other (not so) precious metal: silver. The breakdown below the big $18.25/50 long-term support and resistance level is clearly a bearish outcome in the short-term outlook. For as long as the metal now holds below here the bias remains bearish.