This is just a quick message to let you know that today’s move higher in gold and mining stocks (silver is more or less where it closed yesterday) is not likely something sustainable. The comments from the Fed usually result in increased volatility, but it doesn’t seem that anything changed regarding the key trends or signals present on the precious metals market, especially that the comments were not indicating significant changes. Gold is not even close to the previously broken support line and the key sell signals remain in place.

Thank you.

Sincerely,
Przemyslaw Radomski, CFA
Founder, Editor-in-chief, Gold & Silver Fund Manager

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