Gold moved higher and silver did more or less the same and some may say that nothing really exceptional happened on the precious metals market. And they would be terribly wrong. Gold stocks soared! The implications are too clear for anyone to ignore. Our initial upside targets were already reached, but this doesn’t automatically mean that the outlook changed. What changed?

The upside potential.

Being bearish for the medium term is one thing, but ignoring an extra clear buying opportunity is a something entirely different. We don’t think that the final bottom for the precious metals market is yet in, but at the same time it seems that PMs got ahead of themselves during the decline and need to correct first before they will be ready to decline once again. Friday’s exceptional rally in gold stocks very strongly suggests that the precious metals sector will move higher than we previously assumed. You will find the details and up-to-date price targets in today's Gold & Silver Trading Alert.

• Read more

Gold broke below the key support line yesterday, but some may say that this breakdown is rather irrelevant because mining stocks showed strength by moving higher despite this seemingly bearish development. Would they be correct?

• Read more

In yesterday’s first Alert, we discussed multiple bullish signals for gold and we emphasized that without seeing a few additional confirmations it will not be justified to enter a long position for gold, silver, and mining stocks. And we saw them.

• Read more

• Read more

In yesterday’s intraday Alert, we explained why the short-term outlook for the precious metals changed from bearish to neutral and we took profits from our short positions. It was not just the fact that the price targets were reached for gold and silver. The key to the change in the outlook was seeing the confirmations from gold’s performance relative to the USD Index and from the mining stocks’ performance compared to the one of gold. In today’s analysis, we’ll take a closer look at what happened and what it means going forward.

• Read more