Just a quick update as things are moving quite fast in the PMs.

The precious metals moved higher today, but silver soared MUCH more than gold did. And this tells us a lot about the next several days.

Gold moved slightly above yesterday’s intraday high and then it declined back below it. Silver soared well above the analogous high, and while it reversed, it didn’t move back below yesterday’s high just yet.

This kind of performance tells us that the investment public is likely making its purchases, perhaps the final ones.

This, plus all the factors covered in today’s regular analysis, make the outlook very bearish for the following weeks and days.

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

Thank you.

Sincerely,
Przemyslaw K. Radomski, CFA
Founder, Editor-in-chief