We've summarized the latest Premium Update in the following way:

"If gold, silver and mining stocks rally from here, it will mean that the verification is completed and at the same time it will provide another favorable buying opportunity - important news for Traders who missed the previous one."

Based on yesterday's price/volume action in gold, silver and mining stocks we think that the odds favor a continuation of the previous move and that if you are not yet long with your speculative capital, this is the time to get in the market. Still, we suggest using only half of the capital that you would use if the breakout was already confirmed.

Gold moved above its previous highs and the move materialized on relatively high volume. Mining stocks also rallied on significant volume, however they are not yet above their previous high, so a consolidation would still be likely right before or soon after miners break out. However, based on the volume in the GLD ETF alone it seems likely that the move higher will continue.

Silver moved higher on average volume, which doesn't provide particular bearish nor bullish implications by itself, so the situation is in tune with the current trend and it means that it's bullish.

Consequently, we believe that this is a good moment to add to your speculative positions in gold, silver and mining stocks. We suggest adding only half of what you would've add if this was a confirmed breakout. Once we see the confirmation and mining stocks break out above their previous highs as well, we will provide you with a follow-up, most likely suggesting adding to the long positions.

We don't think that any changes are necessary as far as long-term investments are concerned.

As always, we will keep you updated, should anything change - as soon as the situation requires it.

Thank you for using the Premium Service.

Sincerely,
Przemyslaw Radomski