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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Gold and mining stocks moved higher yesterday whereas silver was basically flat. This might seem like a bullish phenomenon until you factor the decline in the USD Index which took it below this week's lows. Metals and miners didn't move above their highs. This type of underperformance is something that we saw right before the June decline...

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.

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In yesterday's essay we wrote about the impact that the USD Index might have on gold in the coming days. Thanks to our Correlation Matrix we knew that a move up in the Dollar Index would very likely translate into lower gold prices. We also showed you the chart of gold from the Australian dollar perspective, which suggested that a local top was likely in. Gold declined and the outlook was confirmed (unlike some of the recent breakouts). 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.

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Gold miners are feeling the pain. AngloGold Ashanti, the world’s third biggest gold producer, last week predicted a writedown on its mining assets in the range of $2.2 to $2.6 billion...

Recent hits on the mining sector will eventually cut down on the supply and when the demand will kick in… But before that happens will miners become gold mines?

We're publishing this week's Premium Update a bit early. That’s because a lot has happened over the last 2 trading days:

• Breakout in gold
• Breakout in silver
• Breakout in HUI and GDX
• S&P 500 almost reached the critical psychological level of 1700
• Silver's cyclical turning point
• Signal from the RSI based on one of the more important ratios

What's next? You’ll find the answer inside the Premium Update.

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Gold, silver and mining stocks broke their declining resistance lines as the USD Index declined. USD Index and silver are at their cyclical turning points, which indicates that the next big move is very close. Is the correction over?

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