We saw another daily reversal in gold yesterday, during which gold touched its declining medium-term resistance line. Gold broke above this level early today, so we have a breakout. With gold trading above this important line it’s critical to take into account the reason behind it and to remember that waiting for a confirmation of a given move proved to be profitable many times in the past.

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Gold reversed yesterday but did it move much lower? Mining stocks declined significantly, practically erasing the move above their 2014 low. Is the rally over?

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During yesterday’s trading gold moved once again higher, and so did mining stocks. The latter outperformed once again and even moved back above their 2014 low. What’s even more bullish is that the above happened without help in the form of a declining USD Index. Can gold and miners still move higher?

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Gold closed much higher last week and the daily rallies were accompanied by high volume. Gold managed to do so despite the initial move higher in the USD Index. Initial, because the USD finally turned south and pushed gold and miners even higher. With this kind of strength, it seems that we can expect the rally to continue. How high could gold go? What kind of action can the investors take given the upcoming rally?

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Gold didn't make new highs yesterday and on Wednesday. Silver and miners moved lower. Is gold's strength and outpeformance of the USD Index over or is this just a pause within a rally? In addition to commenting on this issue, we discuss the possible impact of low crude oil prices on mining stocks.

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