Below you will find a quick summary of the report that we're preparing at this moment and that we will publish later today.

This week precious metals broke tendency of being euro weakness driven and rallied further overpassing recent uptrend in EU currency. In fact it was main reason for us to send Market Alert two days ago, which contain this significant sentence: "The above doesn't change our opinion regarding one's long-term investments - we remain bullish on the metals here and we believe one should hold them regardless of the possibility of the short-term correction."

Analyzing more than price action itself we've seen more bullish signals lately, including high volume upswings and downswings accompanied with relatively low volume. Similar situation is visible in gold, silver and mining stocks.

Still we are receiving short-term bearish signals from reliable indicators such as The Gold Miners Bullish Percent Index and GDX:SPY ratio, so waiting for better risk/reward ratio before entering the market with ones speculative capital is strongly suggested.

Thank you.

Sincerely,
Przemyslaw Radomski