Gold, silver and the USD Index didn’t do much in yesterday’s trading, but that was not the case with mining stocks. The divergence between gold stocks and gold was particularly visible and the implications are once again particularly important.

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The biggest event of the previous week was the huge decline in the USD Index – the reaction of the precious metals market – especially the mining stocks – was very specific. What can we infer from the size and additional details of the metals and miners’ upswing?

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The biggest event of yesterday’s session was the Draghi-induced rally in the euro and the decline in the USD Index. The latter broke below the declining support line in a profound manner – what are the implications of this decline for the index and for the precious metals market?

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Gold, silver and mining stocks moved higher in yesterday’s trading as the USD continued to decline. Still, mining stocks moved only barely higher and this makes the implications of yesterday’s session less clear than it seems at first sight. In which way are the precious metals likely to head next?

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