in gold and silver are brutal and last more then a week!!!!! Bashers always jump up and down and call that the sky is falling. 2005 correction started in earlier part of March and lasted until around August with bottom for many stocks being Mid May.
In 2004 correction started end of march, beginning of April and lasted until about same time - sometime in September before stocks and metals started to firm up. Bottom being mid May as well.
This correction just started about 3 weeks ago so we still have ways to go IMO, bottom will yet come and then we will move sideways and then we will be ready for another leg up. There isn't any blood on the streets yet, because this is only 3 weeks into the correction IMO.
Correction are used to help shorts cover and and this isn't any different. We just have to watch the short position in stock get smaller and then we'll know things are turning and this isn't the time yet IMO but this might be the shake that shakes the weak hands and helps shorts cover - we shall see.
Gold 580 is major support and a bottom of trend up line for me so that's where I see the possible bottom. Nothing in the world finance has changed to show that USD is going to get stronger, nothing has changed in regards to deficits. Bankers haven't created a recession but more notable a depression in a long time so in other words, general public hasn't been fleeced in a while so the time is ripe for debted public who took advantage of the banks for so long to repay banks now and be fleeced of what they own.
Fed will continue raising rates, if they pause that just means they will come back with bigger hikes later. People should sit down and spend some time thinking how this will effect them and what's ahead on the horizon - good times or bad times and act accordingly. I think the latter will be here and I am buying physical gold (I like gold more personally than silver but do have some silver oz)
Stocks are paper and don't fall in love with them - trade them.