Gold moved above its 50-day moving average – when this happened previosuly (in October 2013), it stayed there for a few days, moving to the declining resistance line, only to decline thereafter. At this time, the declining support line is not as close, but it could still be reached – and its a little more likely now that the 50-DMA was taken out.

On the other hand, palladium moved above the declining resistance line and this is something that meant local tops in the past. Which way will gold, silver and mining stocks move in the coming days? What's the suggested position, given the above? You'll find details in today's Market Alert.

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In the last Premium Update, we warned that gold might rally before another big drop, and it has. We can say a similar thing about the Euro Index - it was just at its 50% retracement based on the recent rally; it was likely to move higher, and it has.

Gold is now at the rising long-term resistance line, but given the short-term strenght we might (not very likely, though) see a move up to $1,280 - $1,285, where we have the declining resistance line based on the Feb, Aug and Oct 2013 highs. How likely is this move? Is it worth betting on another quick rally?... Or is the situation bearish enough to justify opening short positions? You'll find details in today's Market Alert.

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This week’s projections:

• Will we see history repeat itself once again
• How high would gold need to move in order to make the outlook bullish
• How would you know that it's time to be back on the long side of the precious metals market if the strength continues
• Will the Euro’s move higher last
• Will USD Index keep declining
• Owning gold in terms of Japanese yen
• How China’s economic slowdown will impact the precious metals market

Click here to get premium and see these projections

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Gold declined once again without invalidating the previous breakout and USD Index moved close to its November 2013 high. Is the rally in the USD and the decline in gold over? Will the yellow metal move back to its 2011 high anytime soon (or at least without another significant decline)? You'll find more information in today's Market Alert.

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Gold declined yesterday, but the volume was not that significant. It currently looks like a verification of the breakout above the declining support line based on the October 2013 and December 2013 highs.

Is gold really about to take off? The palladium market provides us with clues regarding gold's next move. You will find details as well as trading /investment suggestions in today's Market Alert.

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