first majestic silver

P. Radomski

CFA, Editor & Founder @ Sunshine Profits

Przemyslaw Radomski, CFA, is the founder, owner and the main editor of  You can reach Przemyslaw at:

P. Radomski Articles

Gold rallying on low volume yesterday was a clear bearish sign; the yellow metal dropped about $15 in today’s pre-market trading. What will happen next?
Silver and mining stocks reached intraday highs only to pull back before the end of the day. It all happened on quite big volume – another sign of a market top.
The FED has recently been tricked with its own money. Could the central bank’s scary reverse repos become a treat for the USDX?
Exact weather is hard to predict, even with forecasts, but we can look for clouds on the horizon to prepare ahead of time.
Gold should have rallied today given its negative correlation with the USDX, but it didn’t. Have we reached the top of the mountain with the only way – down?
As we know, history tends to rhyme. It’s never the same, but when you zoom out, the bigger picture often looks very similar. What does it mean for gold?
Most likely we saw the precious metals reach their zenith on May 19, like the tropical sun on the day of the equinox. What will come afterward?
When the USDX declines, the PMs usually celebrate and rise as a result. However, this was not the case yesterday – and we can’t ignore it. “Reversal” is the name of the game, at least when it comes to the precious metals market.
Taking history into consideration, we are on the verge of change. Today’s pre-market reversal might have been the final top – but nothing is certain.
Easy choices lead to a hard life (or at least losses), and because gold’s downside move is delayed, it’s extremely easy to be bullish on gold right now.

Gold is impervious to rust.

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