Gold moved sharply higher in today's pre market trading and our stop loss level was breached by $1. Our approach at this time is NOT to chase the gold market immediately, but to leave the remaining part (silver and mining stocks) of the position in place as it is. Today's upswing might be a very temporary event that is erased before the end of the session (and that's why we are keeping the positions in silver and mining stocks intact) but in case gold will move even higher temporarily, we are not automatically re-opening it in gold. We prefer to see what happens today and react accordingly - either before markets close today or after the close.

As always, we will keep you informed.

Thank you.

Sincerely,
Przemyslaw Radomski, CFA
Founder, Editor-in-chief

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