Gold and Silver Correct in Last Part of Trading Session

Gold and silver soared in early trading on Tuesday, but made a major correction in the middle of the session, with both precious metals reversing direction and taking a nasty hit.

Most of that was apparently the result of the US dollar strengthening during the day, but that hadn't affected the price of gold and silver recently when that happened, as they have decoupled from the US dollar recently and went up even as the dollar went up.

That's usually a signal the support under silver and gold is strong and overcomes the usual inverse relationship between the greenback and commodities.

Gold climbed as high as $1424.30 an ounce early on Tuesday before it began it plunge, dropping as low as $1,392.40 an ounce.

Silver performed the same, reaching up to $29.34 an ounce before plummeting to $26.925 an ounce later in the day.

This is just a temporary lull as nothing has changed in the reasons behind the support for silver and gold, and they'll continue their upward ride no matter what happens in the short term.