Market Alert sent on August 12th, 2013

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This Premium Update begins with an excerpt from our just-released Market Overview. It focuses on gold as an anti-inflation hedge, and why it is precisely a hedge against something else.

Then, we look into other weighty facts, and answer important questions, so that you can act efficiently on the short-term:

• Is the short-term US Dollar trend unthreatened?
• The Euro Index climbed up and broke above the psychological resistance level of 133
• Corrective move in stocks
• Big head and shoulders pattern in copper
• Gold and silver moved higher on Thursday. A bullish development or a contrary indication?
• Was the gold miners breakdown below April's low invalidated?

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The USD Index declined yesterday (and today as well), but gold, silver and mining stocks didn't rally. They moved a bit higher and then moved back down once again. The underperformance of the precious metals sector relative to the USD Index definitely remains in place and it seems that we in for some turbulent times. Would you like to receive our premium commentaries on the latest developments in gold, silver and mining stocks along with buy/sell signals and stop-loss details? You can start receiving them on daily basis and read today's Market Alert right away. Please sign up to continue.

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The precious metals sector declined yesterday and the decline was most visible for mining stocks. In our previous alerts and updates we emphasized that the recent strength in mining stocks was not something really meaningful, because there had been multiple previous cases when such short-lived strength didn't mean much and was a bearish short-term indication, if anything. The GDX:GLD ratio moved quite close to its June lows yesterday and at the same time visibly broke below the support line based on the January and June highs. The decline seems to continue in terms of miners underperformance relative to gold.

There was something particularly interesting about yesterday's decline that clarifies the situation a bit - there are currently two very likely outcomes (yes, it's more complex than "it either will decline or it won't" ) and in today's Market Alert we provide you with details that should help you prepare for the coming decline. We also comment on adjusting the size of the short position (which we doubled on July 26, when gold was $50 higher than it is today). Sign up to read today's Market Alert.

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Recently, we have been asked the following:

"Copper is flirting with the $3.00 support zone and it appears that it may eventually make the plunge. Should this occur, what would be the implication for the PM markets, especially gold and silver?"

The situation in the copper market can tell us a lot about what's going on in the precious metals market. There is a specific way in which the metals might react if copper plunges, based on, i.a., a huge head-and-shoulders pattern. Interested in gold, silver, mining stocks or copper? Then you'll enjoy reading today's Market Alert. We invite you to sign up and read it right away. 

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