Just a quick update as things are moving quite fast in the PMs.

The PMs moved higher right after the Fed’s bullish remarks on the state of the economy, but this doesn’t change anything with regard to the outlook for the next few weeks/months, which remains bearish.

At the moment of writing these words, the mining stocks (GDX) moved to $34.47 – which is still below the upper border of the current target area. Nothing that happened so far today is a game-changer.

As always, we’ll keep you - our subscribers - informed.

Thank you.

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