Mining stocks ended last week with a rally, which appears to be a very bullish development as they broke above the declining resistance line and this time the move above it was quite visible. Was this really the case or is the support reached in case of the USD Index more important at this time? There are many other factors that one should consider before making the final judgment.

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Not much happened on the precious metals market yesterday except for one important / “important” thing – the breakout of the GDX ETF above its short-term declining resistance line. What changed?

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The precious metals sector is performing quite well this week, but gold, silver and mining stocks have not moved above their recent high – at least not yet. Are there bearish or bullish implications thereof?

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Even though many signs have been pointing to lower precious metals prices, we just saw a daily upswing. Were the bearish signs just invalidated and is the final bottom for this major decline already behind us?

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Last week was quite volatile for precious metals, commodities, currencies and the general stock market and there are at least 2 good reasons for it – the interest rate hike by the Fed and the “quadruple witching” on Friday. Whereas the impact of the derivatives’ expiration could have been of short term meaning, the rate hike should not be ignored. Consequently, last week’s price movement can tell us quite a lot about the next move in the precious metals sector.

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