The last couple of years and – in particular – the last couple of months were very difficult for gold traders – i.e. they were boring. Despite several huge daily price swings, the precious metals market has not been going anywhere, moving in and around the $1,100 - $1,300 price range. Gold got to the point where this lack of volatility is by itself an extreme sign pointing to a much bigger price swing in the market, as the periods of very high and very low volatility tend to follow each other. Gold seems to have once again topped after moving to a long-term resistance line and the previous highs. Will the upcoming decline be any different than the previous local downswings that were simply followed by yet another rally up to $1,300?

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In the previous alerts, we discussed the issue of gold moving higher despite the lack of real downswing in the USD Index. We argued that it’s likely based on the geopolitical developments i.e. rising nuclear tensions regarding North Korea and as such, it’s likely to be just a temporary course of action. It seems that we were correct as yesterday’s and today’s pre-market action show that gold is once again responding to USD’s lead. In particular, gold is responding to small rallies in the value of the USD Index with visible declines. What are the implications?

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Gold and – especially – silver moved visibly higher last week and so did mining stocks. However, something much more important than the short-term movement is taking place, from the long-term point of view. You'll find details in today's alert.

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Once again, gold and – especially – silver moved visibly higher yesterday and so did mining stocks. However, something much more important than the short-term movement is taking place, from the long-term point of view.

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Gold and – especially – silver moved visibly higher yesterday and so did mining stocks. Is there anything not to like about this move?

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