In yesterday’s alert we discussed several things due to which the precious metals sector was likely to move lower, however, there is also one thing that we didn’t cover and that can make the situation much more volatile once it is seen. And it appears that it will be seen shortly. We discuss the details in today's Gold & Silver Trading Alert.

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Quite a lot happened in the precious metals last week and since we finally have the weekly closing prices and weekly volume levels we can discuss them in greater detail. There were 2 developments that appear to have particularly big implications: the confirmation of gold’s breakdown and a hidden (from most market participants) signal from the silver market. We discuss details in today's alert.

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In yesterday’s alert we wrote that mining stocks might (!) correct, but that their temporary strength didn’t change the outlook and thus lower precious metals prices were to be expected. We didn’t have to wait long for a confirmation – silver declined once again (it’s now over $2 lower in just 3 weeks) and so did gold. What was most interesting about the move in the latter is that it finally broke below an important support line. It was the last to break as miners and silver had broken below their own respective support levels earlier. Can a one-day breakdown really be viewed as a bearish signal for gold?

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Precious metals moved visibly lower yesterday, but we can’t say the same about gold and silver mining stocks. The miners refused to follow the metals lower an the question is if this is a sign of a local (or major) bottom.

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The precious metals market (not only metals, but also mining stocks) didn't move much in yesterday's trading and the question is if the above implies that the decline is over, since there was no additional daily decline. We discuss details in today's alert.

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