Last week was rich in various events that are important for both: precious metals investors and traders, but ultimately gold ended the week on a positive note, rallying $3.10. However, the most important developments were seen not in gold, but in silver and the USD Index. What are the implications and what’s next?

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Yesterday, gold reversed in a rather profound manner and so did mining stocks. Silver’s reversal was less meaningful, but still important given that the USD Index moved to its long-term resistance line and pulled back before the markets closed. Did we just see a true reversal in both markets?

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Today’s alert is rather short, but extremely to the point. The key news today is that the USD Index rallied once again and moved to the declining resistance line (based on the 2005 and 2010 highs). That's important not only for currency traders, but also for (or perhaps given the critical juncture in silver and gold - "particularly for") precious metals investors and traders. Silver moved to new lows, but will it really slide further, given a likely turnaround in the USD Index? What about gold and mining stocks? That's the key issue that we cover in today's Gold & Silver Trading Alert. Today's alert also includes a short discussion of the profits on the most recent trading positions and (actionable!) details for the next trade.

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Gold rallied yesterday and so did mining stocks. The move higher was less visible in the case of silver, but is this really less significant? As it is usually the case, the context provides the details necessary to interpret the situation in the most profitable way.

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