The dollar’s rally and the precious metals’ decline were seen right after comments from the Fed about the planned $10 billion cut in asset purchases. They will now amount to “only” $55 billion per month.

The dollar’s rally and the precious metals’ decline had already been seen in the charts and the Fed comments served as a catalyst. The situation in gold and mining stocks had already been overbought on a short-term basis, so a decline here might not have changed anything… But it actually has - just not for all the parts of the precious metals sector. The situation is complex but we think it provides us with a potentially profitable opportunity.

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The precious metals sector declined once again yesterday, but the question is if this decline changed anything. Gold and mining stocks invalidated the breakouts above the Fibonacci retracement levels already on Monday, so do further declines make the situation more bearish? Or perhaps it's a good time to get back on the long side of the precious metals market? We provide details in today's alert.

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Gold, silver and mining stocks declined yesterday. Even though the key support lines were not broken, we saw some invalidations of the previous breakouts, which invalidations were bearish signs on their own. How much did that change? How does it relate to the situation in Ukraine and the outcome of the referendum and what everyone's doing about it? The situation is complex, but in our opinion there's a way to position oneself in this environment.

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Gold moved higher on Friday and so did silver and mining stocks. Silver didn't move above the previous highs, though, and the rally in miners was relatively small. The sector looks quite promising until you factor in the situation in the Euro Index and in the copper market, which used to lead precious metals in the past. What's next and - more importantly - how should one position themselves in this environment?

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