Gold and silver prices are dropping lower today and giving us a good opportunity to go long in both metals. What we can do here is set our stop losses on both gold and silver breaking below their lows from last week. That would be $1304 in gold and $16.32 in silver (as always, these are "spot" prices). If only one metal goes below its low and not the other over the next few days, we may stay long as that would be a bullish divergence signal in the current reversal zone (which ends on Thursday). Going long in both gold and silver today.
The broad stock market rallied early today but is falling this afternoon. That rally had all three indices making new weekly highs so will have no bearish divergence signal this week. Nevertheless, we are still in a reversal zone (through Wednesday) so a modest correction could be starting now. I am going to hold my short position a bit longer here with the idea of covering it at a better price if the market moves lower.