The USD Index is approaching the 94 level that we previously described as something that could keep the rally in check and miners have just refused to decline even though gold did. Instead, they formed a reversal on a relatively big volume - is a rally in metals and miners just around the corner?

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Quite a lot happened in the precious metals market last week, but the biggest change was seen in the silver market. The white metal previously received a lot of attention from precious metals bulls after it had broken above the declining resistance line based on both intraday and weekly closing prices. Silver already invalidated the breakout above the line based on intraday highs several days ago and based on Friday’s closing prices, silver closed the week below the long-term support/resistance line, thus invalidating the breakdown also in terms of weekly closes. Are the implications as bearish as they appear at first sight?

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In yesterday's alert, we discussed gold's downside price targets in greater detail and in today's alert we focus on the USD's possible time/price combination for a reversal. After all, the 2 markets often mirror each other, so a top in the USD would likely correspond to gold's bottom. When could that take place and at what USDX value? You'll find details in today's Gold & Silver Trading Alert.

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Gold, silver and mining stocks declined yesterday and now – with all of the above at new monthly lows - it’s become clear that Monday’s upswing was just a bull trap and that gold has indeed started a bigger decline. But how big is this decline likely to be? What are the near-term targets? What levels could trigger a rally and when should one enter a trading position based on them? You'll find replies and details in today's Gold & Silver Trading Alert.

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Monday’s upswings in both gold and the USD Index and the breakout that it caused (only in the latter) had exactly the implications that we expected it to have – the USD moved higher, but gold didn’t. It was surprising at first sight, but not if one knew that the upswing in USD was meaningful, while the one in gold wasn’t. In today's alert we discuss what exactly changed and what didn’t and what this all implies for the following days and weeks for precious metals investors and traders.

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