Ø  October gold closed sharply lower on Thursday extending the decline off August's high. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If October extends this week's decline, August's low crossing at 1272.10 is the next downside target. Closes above the 20-day moving average crossing at 1382.20 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at 1382.20. Second resistance is August's high crossing at 1432.90. First support is today's low crossing at 1322.40. Second resistance is August's low crossing at 1272.10.

Ø  December silver closed sharply lower on Thursday renewing the decline off August's high. The low-range close set the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If December extends the aforementioned decline, August's low crossing at 19.145 is the next downside target. Closes above the 20-day moving average crossing at 23.512 would temper the near-term bearish outlook. First resistance is August's high crossing at 25.160. Second resistance is the 50% retracement level of the September-June decline crossing at 26.862. First support is today's low crossing at 21.890. Second support is the reaction low crossing at 19.145.