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 looks short-term bullish, which also has bullish implications for gold, silver and mining stocks due to fact that the USD has been leading the precious metals during the past few months. However, the sentiment for stocks is medium-term bearish. A correction back to levels of the 2010 highs is likely and may have a negative impact upon gold, silver and mining stocks in a few weeks.

Gold appears bullish in the short-term however the sentiment for the medium-term is mixed. Much depends on how the resistance levels hold the next short-term rally. If they hold and stop the uptrend, then it may very well be prudent to exit a portion of one's long-term position. This is not the case today.

Thank you.

Sincerely,
Przemyslaw Radomski