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

Throughout this week’s update, the situation across nearly all markets has been described as mixed. This is due, in part to the close relationship seen between markets as a mixed situation in one often carries over to some or many of the other markets. It seems that such is the case today.

In the currency markets, the euro and the dollar are both close to resistance and support lines and a strong move in either direction will likely be the beginning of an eventual big move. The situation is quite tense today.

In the general stock market, we again see a mixed situation, although this does not appear to be impacting the precious metals as strongly as are the currency markets. The financials are somewhat bearish which is contrary to the bullish signs seen in the general stock market.

Gold has been trying to move above its previous highs but has not yet succeeded. Silver is the most bullish of the precious metals at this time but since all precious metals move together, we hesitate to call the situation very bullish for the white metal.

Gold and silver mining stocks are trying to take out their own resistance levels and with mixed signals present, it seems best to wait for a more favorable risk/reward ratio in order to open new speculative positions. We will watch the situation closely in the coming days/weeks and keep you up to date with all important developments.

Thank you.

Sincerely,
Przemyslaw Radomski