US equities are significantly higher. Meanwhile, the precious metals are broadly higher, Gold +$20 (1.2%), with Silver +0.8%. The miner ETF of GDX is currently +2.2% in the $34.88s.
Weekly charts for perspective…
GLD
SLV
GDX
Summary
Gold/GLD: gold printed the $1786s, especially helped by the cooler dollar. A push back above psy’ $1800 is due. Gold bugs should be seeking a June settlement above the monthly 10MA… in the $1820s. Anything >1840 would be decisive.
Silver/SLV: silver printed $26.14, the gains are surprisingly less than gold. Soft target remains psy’ $30, and then 35/37 zone.
GDX: miners higher with gold/silver, and further helped by the main market.
*I hold long the sector via GOLD, NEM, AG, KGC, HL
notable miner: GOLD
Barrick Gold reflective of the sector. Cyclically very low, and should broadly climb into July.
—
Equities: sp’60min
Impressive gains… as green gap has been fully filled. Soft resistance 4240s.