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The dollar moved higher, but no worries, gold declined only half as much. This is bullish for the entire precious metals market. The fundamental situation justifies a move above the $1000 level. Still, we must proceed with caution as the situation in the USD market has become vague, making specific calls for the PM sector very risky.

Even the conservative Wall Street Journal is beginning to like gold’s gleam. Last week’s brief correction didn’t catch my Subscribers by surprise, since they got a heads up the week before. This week we look at a head and shoulders pattern forming in the precious metals stocks, which indicates where one might expect the PM sector to head next.

This week we report on subtle clues about improving fundamental situation on the precious metals market, and discuss the short term outlook. We put the emphasis on the most important markets and additionally we mention what one of the leading stocks on the market is suggesting at the moment.

You could get lucky and find those one-in a million rare gold coins worth a fortune or an undiscovered gold mine in Sweden. But at Sunshine Profits we don’t depend on luck. We rely on technical analysis and other important tools, which this week tell us that a recently-formed high correlation between the stock market and gold has particularly important implications for precious metals.

Market Alert sent on July 15th 2009