Gold andsilver prices are sharplydown in early-afternoon U.S. trading Thursday, on heavy profit taking by theshort-term futures traders following recent good gains. Technically, bothmarkets are seeing downside technical corrections, which are not unexpected.Gold prices hit a 10-month high on Wednesday and silver futures closed at aseven-month high close. April goldfutures were last down $17.30 an ounce at $1,330.70. March Comexsilver was last down $0.352 at $15.825 an ounce.

No significant chart damage was inflicted in gold or silvermarkets today, but solid follow-through selling pressure on Friday would beginto produce near-term technical damage. If recent history plays out again, goldand silver bulls will step in on Friday to buy the dips.