Gold and silver prices both had a virtual meltdown following the release of a report by the U.S. Census Bureau detailing monthly sales for retail and food services in August 2021.

After yesterday’s moderate upside move taking gold above $1800, technical selling pressure resulted in gold breaking back below $1800.

As of 4:25 PM EDT gold futures basis, the most active December 2021 Comex contract is currently up $12.70 and fixed at $1807.10.