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The most important development that we saw on Friday didn't materialize in gold, silver, or any other part of the precious metals sector. It happened in the USD Index. The U.S. currency soared sharply and closed at new 2019 highs, as we've been expecting it to. The move was huge, and the closing price was also the weekly close. Rallies are not bullish by themselves, but big breakouts definitely are. What does it imply for the precious metals market in the following days and weeks?

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Time flies when you're having fun. And when things get boring, it apparently flies as well. Let's take the past 8 years - gold, silver, and mining stocks moved down, up, down again, and now they're after a short-term rally, but overall none of them broke above new long-term highs. Silver and miners didn't even move above their 2016 highs. However, there's something much more important about these 8 years than just the above simple summary. Just after the 2011 U.S. Labor Day, gold topped and began a price slide that has almost cut its price in half. Gold stocks price decreased several times, and so did the silver price. We saw substantial declines after almost every other U.S. Labor Day since that time. Today is the final session before this important date, so it's imperative that one be prepared for what's likely to come. Are you?

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Miners' moved higher, but the extent of this move is nowhere similar to what we just saw in case of silver. Some will emphasize the breakout above the early August highs, while some will say that the recent rally is still nothing to call home about because it's much smaller than the one that we saw in 2016. Who's right?

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Silver soared yesterday and it moved higher also in today's pre-market trading. Some will say that the silver rocket is going to shoot straight to the moon, pass it and reach the stars, defying most laws of physics. But is this really the most likely scenario? After all, silver outperformed gold at the tops so many times, and "this time is different" are very costly words in the investment world. Has silver soared too high, just like Icarus, whose wings melted from sun's heat, and who then plunged into the sea? What changed in silver, and what does it imply?

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