Importantly, today's price action in gold and silver suggests the bulls are now near-term exhausted and that near-term (but not longer-term) market tops are in place. The two precious metals markets are seeing the shorter-term futures traders taking profits after the recent solid gains.

trading Monday, after gold overnight spiked to a new record high of $2,152.30, basis February Comex futures. ( Kitco News) - Gold and silver prices sharply lower in midday U.S.