We’ll keep this short as we want you to receive this alert as soon as possible.

The most important thing about Yellen’s speech today was that… It took place. The investors were anxious, awaiting anything that might send the markets soaring or making them take a dive. What was so terrifying for some, is already said and done. Therefore, the uncertainty is also gone and markets can resume their recent trends. Why? Because Yellen didn’t say anything particularly new. Some might view the speech as hawkish as she said that the case for another interest-rate hike has strengthened in recent months. On the other hand, she also said that the Fed would be ready to lower the rates and provide stimulus (potentially) in case of severe recession.

All in all, nothing really changed except for the pre-speech tensions, which are now gone. With them aside, the trends (decline in the precious metals sector and a rally in the USD Index) can continue.

Technically, before today’s intra-day rallies were erased, miners underperformed gold and silver outperformed quite strongly - that’s exactly what we like to see as a bearish confirmation.

Summing up, the outlook for the precious metals market remains bearish and the profits on our short positions are likely to become bigger in the coming weeks.

As always, we’ll keep you - our subscribers - updated.

Thank you.

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

Gold & Silver Trading Alerts
Forex Trading Alerts
Oil Investment Updates
Oil Trading Alerts