The USD Index declined yesterday, and the gold stocks did exactly the same thing. And so did silver. They both continued to move lower in today’s pre-market trading and so did gold. Surprising? Absolutely not, at least not if you read our previous analyses. What’s likely to happen next given the irregular reaction of the precious metals sector?

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And so it happened. Gold reversed and declined on big volume after a brief flirt with $1,300. But the most interesting thing happened on the silver market. Silver closed the session unchanged, but the intraday volatility was significant – silver moved almost $0.20 above, and then below the previous daily close and ended the day only a bit lower. The long-legged doji (because that’s how this shape of daily price movement is called) indicates great uncertainty. At the first sight, the situation may indeed be uncertain, but looking at it from a broader point of view, it’s clear that similar uncertainty-indicating sessions took place on a regular basis at very important moments. This regularity provides the opposite of what it’s visible at the first sight – reliable indication of what’s going to happen next - not only in silver, but in the entire precious metals market. Confusing and odd? Yes. Irrelevant? Definitely not. Profitable? Most likely very much so.

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The USD Index moves up and down in a crazy manner and this chaos and uncertainty make precious metals more appealing. But why did they really rally so far if the USDX didn’t erase much of its 2018 rally?

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The USD Index finally soared yesterday, but gold and silver investors did little except yawning. Nothing changed in gold or silver prices yesterday. Miners didn’t move as well. What gives? If they are not plunging given a rally in the USDX, then the USDX is not really an important factor and gold and (especially) silver could rally on their own, correct?

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