Just a quick note to let you know that nothing changed in our views on the market. We usually send out messages when something does in fact change, but given today's pre-market volatility (silver moved $5 lower temporarily) we would like to reassure you that we're monitoring the situation.

Based on Friday's bullish gold rally it seems that there is enough strength in this market to reach $1,600 level which is our target for this rally. Most likely (this is not something that we are betting on) this level in gold will be accompanied by a double top in silver (most likely close to $50 level) and a false breakout (move above previous highs) in mining stocks.

Consequently, our previous suggestion to bet on higher gold prices with one's speculative capital appears justified.

Thank you.

Sincerely,
Przemyslaw Radomski