Gold, silver and miners are moving back and forth once again today while platinum is rallying. Beginning with the last metal mentioned, there are still likely hundreds of dollars of gains on a single ounce that can be made by switching from gold to platinum, so we would like to draw your attention to this market once again. If you have been following our suggestions and are holding platinum - don't sell it just yet.

While this pattern is also visible in the gold market, we would like to emphasize the existence of a triangle pattern in the silver market. Silver started the pattern on Jan 23 when it topped, the following bottom (Jan 28) was the lower border of the pattern. Since that time silver has been moving up and down in a diminishing trading range which has narrowed and is currently between approximately $31.60 and $32. A confirmed breakout above the $32 level will likely be followed by huge gains. In most cases triangles are continuation patterns, especially the ones following a rally, which is the case right now. Of course, there is a long-term support line just a little below today's prices, so the situation would be bullish even without the triangle pattern.

All in all, the situation remains bullish for the precious metals sector. Just as we indicated previously, a full speculative long position is suggested for gold and silver, and also for mining stocks.

Naturally, we suggest remaining in the precious metals market with your long-term investments. We sustain our belief that platinum will continue to outperform gold in the following months and it's not too late to take advantage of that.

As always, we'll keep you updated should our views on the market change. We will continue to send out Market Alerts on a daily basis (except when Premium Updates are posted) at least until the end of February, 2013 and we will send additional Market Alerts whenever appropriate.

Thank you.

Sincerely,
Przemyslaw Radomski, CFA