US equities are significantly higher. Meanwhile, the precious metals are moderately higher, Gold +$8 (0.5%), with Silver +0.4%. The miner ETF of GDX is currently +1.1% in the $39.47s.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed the $1885s. Regardless of how the rest of the week trades, gold did print a new multi-month cycle high of the $1891s, as the m/t trend is in the process of turning back to bullish.
Silver/SLV: silver printed $28.13, helped by the positive main market, and the cooler dollar. Any renewed main market cooling would be a problem, but more broadly, a break >psy’ $30 appears due, and then onward to 35/37.
GDX: miners higher with gold/silver and the main market. The recent break above the Jan’ $39s was decisive, and the door is open to psy’ $50, which seems realistic late June/July.
I hold long the sector via GOLD, AG, KGC, and HL, but am ‘light’, and want to add on any main market cooling wave.
notable miner: GOLD
Barrick Gold higher with the sector and main market. The recent break/hold above the 200dma offers 27/28s, as the May settlement is set to turn the m/t trend back to bullish.
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Equities: sp’60min
S/t momentum is on the high side, and we’re due a cooling wave. With tomorrow being OPEX… we have to expect some chop, if leaning on the weaker side.