The back-and-forth trading in the USD Index ended as it pierced through the short-term resistance and also above this year’s high. As we have emphasized many times previously, the U.S. currency is after a long-, medium- and short-term breakouts so the surprises should be to the upside. Consequently, yesterday’s rally was not unexpected. What was surprising, was the lack of a real decline in the precious metals sector. Does this mean that the USD rally won’t hurt gold and silver investors?

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The precious metals market continues to provide an uncommon combination of events. On Friday, we saw gold decline along with the USD Index, and yesterday we saw gold decline but silver and mining stocks went up. What does all this mean?

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While very little happened in the precious metals market Monday-Thursday last week, we saw a relatively big intra-day move on Friday. Gold declined about $20 initially, but erased most of the move before the end of the session. How much can this move and the reversal tell us about the future for gold, silver and mining stocks? It has more than one important implication and we cover the details in today's alert.

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The ratio comparing gold stocks to gold has a special meaning to those who have been following the precious metals market for more than a few years. It was just a few years ago, when this ratio was one of the most reliable indicators of what’s to come. Mining stocks were the first to indicate in which direction the entire sector will move shortly. We have just seen a breakout in the gold stocks to gold ratio, so it’s no wonder that many investors and traders just got excited. What are the implications? You'll find our take in today's Gold & Silver Trading Alert.

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The question from the title seems to be more important today than it was in the past several weeks - in light of the strength seen in mining stocks. Will gold ever move below $1,200? What could trigger such a move and how likely is it to take place? In addition to technical factors, in today's alert we describe one event that could easily and quickly take gold much lower.

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