The USD Index finally declined yesterday, but there was little reaction in the case of the precious metals sector. Why? Aren’t metals and miners supposed to rally given the signal from the currency market and in light of PMs’ strength in the recent days (they haven’t declined despite the dollar’s rally)?

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Yesterday, we finally saw some strength in the precious metals sector. Moreover, we saw it without a decline in the USD Index, which is a positive sign. Will gold, silver, and mining stocks soar once the USD finally declines? When could this happen?

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Silver declined massively yesterday. Gold and mining stocks declined as well, but it was the slide in silver that caught the eyes of most traders – and rightfully so. The white metal not only broke the $17 level but also closed below it. Is the final washout in the precious metals sector over (given silver’s tendency to underperform in the final parts of a decline) or only underway?

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Silver declined particularly visibly today. Does this change anything as far as speculative positions are concerned?

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Gold, silver and mining stocks declined yesterday. This action might seem odd given Thursday’s high-volume reversal (Why aren’t metals rallying yet? Won’t they rally at all?), but once one knows one tiny – yet very important – detail, the situation becomes much clearer.

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