We don't want to tell you once again that everything is just like it was yesterday and the day before that, but this is the case. Gold and silver moved higher today after they moved slightly lower yesterday and were still more or less in the same trading range.

The only thing different today is that the initial move lower in gold and silver was accompanied by a move higher in the USD Index - a 0.5 move up. The move up looks bullish on a short-term basis (bullish for the USD Index that is), but it's not bullish when you take into account that cyclical turning point for the USD Index is just around the corner.

Plus, gold and silver moving higher along with a rather significant move higher in the USD Index can be viewed as a positive sign for the whole precious metals sector.

Platinum moved higher once again and we expect the outperformance to continue in the months to come (there may be short-term corrections, also relative to gold, of course). It's still not too late to get into this market.

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.

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