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

The USD Index outlook has changed this week from bullish to slightly bearish. The influence on the precious metals sector, however, is still slightly bullish.

The general stock market had rather lackluster movement this week following its recent breakout. This is still slightly bullish news for silver and the rest of the precious metals sector. On Thursday, gold's decline was visible but did not move below the rising trend channel. This is important and the outlook for the yellow metal remains positive.

Declines in gold and silver stocks were barely visible and have not yet been confirmed. Consequently the outlook remains bullish for gold, silver and gold and silver mining stocks. We still feel that it is wise to keep open speculative long positions and will let you know if the breakout is verified. This would possibly provide an opportunity to add to long positions or if not verified, the time may come where it is a good idea to close them.

There is no change with regards to our feeling on long-term positions and we continue to believe that being fully invested in the precious metals markets with the long-term portion of your capital is wise. As always, we will let you know if anything happens which changes our outlook in any significant manner.

Thank you.

Sincerely,
Przemyslaw Radomski