Things got quite volatile on the precious metals market on Friday but this time - contrary to what we saw in the previous weeks - we saw a big daily rally. We exited the short positions right after we saw that metals and miners are moving higher along with the USD Index (when gold was up only $12; it ended the session $34.5 higher) and we decided to analyze the situation several times over the weekend to make sure that our today's suggestions will be as objective as possible.

Today's Market Alert focuses on facts and their implications for the precious metals market, the overall market outlook and up-to-date strategy along with investment/trading suggestions. Did yesterday's rally in gold confirm the bottom? Read today's Market Alert and find out.

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Things got quite volatile on the precious metals market on Friday but this time - contrary to what we saw in the previous weeks - we saw a big daily rally. We exited the short positions right after we saw that metals and miners are moving higher along with the USD Index (when gold was up only $12; it ended the session $34.5 higher) and we decided to analyze the situation several times over the weekend to make sure that our today's suggestions will be as objective as possible. We'll begin with discussing the facts and their implications for the precious metals market and then will move to the overall market outlook which will be followed by up-to-date strategy and investment/trading suggestions.

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Market Alert sent on June 28th, 2013

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What’s the price of gold plummeting? Morgan Stanley, Credit Suisse, SocGen, Deutsche Bank, and Goldman Sachs -- all cut forecasts. Barrick Gold Corp, the world’s largest gold miner, is cutting jobs... In the meantime, it costs more and more to mine each ounce of gold and deliver it to physical buyers.

Is the decline over yet? We answer this question, and factor in the following:

• Outlook for the USD
• Gold from the non-USD perspective
• Silver-to-gold ratio
• A target reached by the HUI Index
• Price targets for gold and silver.

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The gold-to-bonds ratio continues to decline but it hasn't reached the support level yet. If yesterday's move is repeated, it will get to the support level, though.

Gold priced in the euro moved below the first Fibonacci retracement level. The move is not confirmed, but it still has somewhat bearish implications.

The Dow-to-gold ratio temporarily moved to our target of 12.50, but closed at 12.18 - we could see another move to this level when the true bottom in gold forms. This chart, however, suggests that the bottom may already be in.

Gold is making headlines again, which quite often signals a turning point. This time the title says: "Gold is Unsafe at Any Price". The reasoning behind the bearish outlook is very weak in our view. The arguments include "there's no inflation", "gold has no utility", and "people are selling GLD ETF shares and the fund sells gold, which exacerbates the declines".

At what prices should investors and traders get back in the precious metals market / close short positions? You will find up-to-date details in today's Market Alert.

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