We're sending this as we would like to share our latest observation with you as soon as possible. Gold just made a headline - a big headline. Just a minute ago the top story on http://finance.yahoo.com was "Why Americans Will Demand a Return to the Gold Standard". At the same time the USD Index is down 0.60 today (right to the major long-term support line that we've been discussing in Premium Updates for a few weeks now) and gold moved only $6 higher.

In other words, gold has just been brought to the attention of virtually everyone, and yet the decline in the USD Index didn't cause a real rally in the yellow metal. This is a very bearish combination.

In short, points made in today's Premium Update have another confirmation. The medium-term trend remains bearish and speculative short position in the miners appears justified. Being partly out of the precious metals market with one's long-term capital appears justified as well.

We are still awaiting the news from the annual Fed meeting in Jackson Hole. We will keep you updated.

Thank you.

Sincerely,
Przemyslaw Radomski