False alarm. We are sticking to our current short positions.

At this time, today’s session doesn’t seem like a CLEAR reversal that’s confirmed by: gold, silver AND mining stocks, so the implications are not strongly bullish.

The reversal is only somewhat visible in gold, but since gold already moved back down today, it’s not as clear and not as strong as a plain hammer reversal candlestick would have been. There is barely any reversal in silver.

The white metal reversed, but it’s still substantially lower than yesterday, so we can say that it simply corrected the daily decline.

Mining stocks did not show particular strength today and their performance can’t be described as a reversal.

Consequently, overall, not much changed, even though the situation appeared to be changing on an intraday basis.

As always, we’ll keep you - our subscribers - informed.

Thank you.

Sincerely,
Przemyslaw Radomski, CFA
Founder, Editor-in-chief, Gold & Silver Fund Manager

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