US equities are battling to build moderate gains, for what is a typical turnaround Tuesday. Meanwhile, the precious metals are moderately higher, Gold +$7, with Silver +0.4%. The miner ETF of GDX is currently -0.2% in the $36.42s.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed the $1879s. Soft target is psy’1900, and then the recent key high of $1966.
Silver/SLV: silver printed $25.02, as weekly momentum is slowly starting to swing back toward the bulls. Core support 21/20 looks comfortably secure into/across 2021. Soft target is the 35/37 zone.
GDX: miners are just seeing some bullish consolidation/chop after yesterday’s powerful gains. Soft target of the $38s is realistic before the weekend.
notable miner: NEM
News: Newmont forecasting AISC falling from $970 per oz in 2020 to under $900 in 2021. This is good… its very good indeed, with a positive outlook for gold prices, whilst fuel prices remain broadly low.
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Equities: sp’60min
S/t momentum will be prone to turning positive into the close, which will likely carry price upward into early Wednesday.