The dam is broken. In general, this means that the water will now run its course lower, until reaching the sea, but in case of the current situation on the currency market it means exactly the opposite. The USD Index just broke above the neck level and completed the inverse head and shoulders formation. And it's means a lot not only for the forex traders, but also for anyone interested in gold or silver.

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At first sight, not much has happened in the precious metals yesterday. That would be a true statement apart from the situation in silver. Easy to notice, hard to ignore. It only serves to make the current setup even more powerful.

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The USD Index practically erased its Thursday's losses, and the precious metals faced stiff headwinds. Silver again outperformed gold, adding more strength to the signal it's flashing for quite a few days already. Yet, it was gold that gets the crown for presenting us with action of significance.

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The USD Index moved sharply lower yesterday, and the precious metals market responded with a powerful rally. Once again silver outperformed, and once again mining stock showed strength. What made yesterday's rally different is that gold broke above the previous highs and above the pennant pattern, which suggests even more strength in the following days. How much has really changed with these developments?

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