At the first sight nothing interesting happened yesterday, but this time, the first impression is a false one. Gold’s volume was extremely low, which tells us something about gold’s very near-term performance. Silver stocks provide us with an important signal with regard to the inverse head-and-shoulders pattern and gold’s relation with the general stock market, its volatility has important implications as well.

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USDX’s Friday’s close was its highest weekly closing price of 2018. This is an extremely significant confirmation of the bullish outlook for the U.S. currency that followed the verification of the breakout above the inverse head-and-shoulders pattern. The implications are clearly bullish for the U.S. dollar. But are they clearly bearish for gold? The yellow metal ended the week close to its October lows and the SLV ETF closed at the highest level since late August. Is the outlook for the precious metals market really bearish?

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Mining stocks moved higher yesterday, while gold and silver soared, and while the USD index declined. It seems that the current situation in silver could be similar to what happened between 2001 and 2003. In today's Alert, we analyze the key details and provide our thoughts on the most favorable trading and investment positions in their light.

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There are quite a few bearish signs present on the precious metals market, but we seem to be seeing at least two bullish ones as well. The mining stocks showed strength in the past two days and both: silver and gold are rallying in today's pre-market trading. Did the short-term trend just reverse to the upside?

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