Last week was very rich in clues as to what is likely to happen with gold, silver and mining stocks. Is gold likely to decline and WHEN is the decline likely to accelerate? Some similarities with the past allow us to discuss this matter in today's Market Alert. In addition to the always-important gold, silver and mining stock charts we discuss the Euro Index and gold seen from the British pound perspective as they both seem very valuable at this point.

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Spot gold ended the week below the 38.2% Fibonacci retracement level based on the April-June decline and at the 61.8% Fibonacci retracement based on the June decline. Recent breakouts above these levels were invalidated. The only breakout that we have is the one above the declining resistance line, which - as we explained in last week's update - is not too reliable as a previous - very similar - breakout was followed by declines.

What's next? Quite likely, lower prices. How low can gold, silver and mining stocks go? What to do about it? What trades to enter? What stop-loss orders should one use? We reply to such questions on a daily basis in our Market Alerts and Premium Updates. Would you like to stay updated too?

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Market Alert sent on July 31st, 2013

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The opening part of today’s Premium Update is a part of the upcoming monthly report – a new, soon-to-be-released service, an unbiased, professional look at the most important events that are currently taking place. In today's issue you will find a detailed discussion of the comments that John Paulson made regarding inflation and how significant is increasing base money supply.

Gold's price moves in the short-term, however, are a different story, so we turn to charts and evaluate the following developments:

• US Dollar's medium-term trend - is it still in place?
• Precious metals' reaction to the US Dollars behavior
• Confirmed breakout of the S&P 500 Index
• Gold's breakout above the declining resistance line and invalidation of the breakouts above the Fibonacci retracement levels
• Silver is underperforming gold (finally signal for a bottom?)
• Long-term breakdowns vs. short-term breakouts in case of mining stocks

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Spot gold ended the week below the 38.2% Fibonacci retracement level based on the April-June decline and at the 61.8% Fibonacci retracement based on the June decline. Recent breakouts above these levels were invalidated. The only breakout that we have is the one above the declining resistance line, which - as we explained in last week's update - is not too reliable as a previous - very similar - breakout was followed by declines.

What's next? Quite likely, lower prices. How low can gold, silver and mining stocks go? What to do about it? What trades to enter? What stop-loss orders should one use? We reply to such questions on a daily basis in our Market Alerts and Premium Updates. Would you like to stay updated too?

• Read more