This is just a very quick message in which we would like to let you know what we think about today's rally in the precious metals sector. The stop-loss levels were reached and we currently don't support any speculative position in the precious metals sector. The question is if today's move is indeed a milestone that changes the medium-term trend for the entire sector, or not. At this time, it still seems that the medium-term trend remains down. We will analyze the situation more closely and provide you with the outcome of our analysis in tomorrow's Gold & Silver Trading Alert.

Thank you.

Sincerely,
Przemyslaw Radomski, CFA