Yesterday’s session was critical for the short term. Gold and silver declined, while the USD Index soared to new 2018 highs and metals closed relatively unchanged. It all happened at the combination of several turning points, some based on regular cyclicality, and some based on the apexes of triangles. Will the precious metals sector reverse and really rally shortly?

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In yesterday’s first alert, we wrote that it could be the case that the precious metals market would drop further before forming a temporary bottom this week. That’s exactly what happened and we took profits on our short position as one of the key reasons for which we hadn’t closed them before ceased to exist. Namely, until yesterday, gold and silver hadn’t moved to any important support level. During yesterday’s session, however, we saw an important change in the above as gold and silver moved to their previous lows. The situation changed and so did our trading position and profits (which increased). What’s next? When are gold and silver likely to turn south again?

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Alchemists are precious metals experts, aren’t they? So let’s see what we can learn from the latest issue of the Alchemist, the LBMA’s quarterly journal.

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Finally! The 10-year Treasury yield has hit 3 percent. What’s next for the gold market?

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