The precious metals sector once again moved higher on an intra-day (!!!) basis and the question is if anything changed. Please note that today’s move took gold more or less to its Friday high, silver is $0.23 below its Friday’s intra-day high and the HUI Index is about 2 index points higher than Friday’s intra-day high. So, we’re not really seeing anything new - just a repeat - to some extent - of what happened on Friday. Back then, the rally was invalidated before the session was over, and we could see something similar later today or tomorrow. The direct reason behind gold’s upswing are “geopolitical worries” (according to finance.yahoo.com) and since the same reasons were behind Friday’s pre-market rally, what we wrote in Friday’s alert remains up-to-date. You can access Friday’s alert using this link:

Gold & Silver Trading Alert: Overnight Spike and its Implications

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

Thank you.

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

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