US equities are choppy, still leaning on the weaker side. Meanwhile, the precious metals are broadly lower, Gold -$14 (0.8%), with Silver -2.3%. The miner ETF of GDX is currently -2.8% in the $34.01s.
Weekly charts for perspective…
GLD
SLV
GDX
Summary
Gold/GLD: gold printed the $1832s, but cooled back to $1810. Set for a net weekly gain of around +0.5%.
Silver/SLV: silver swung from $26.55 to $25.64. Set for a net weekly decline of around -1.5%.
GDX: miners ending the week on a rough note, lower for the fifth week of seven. Set for a net weekly decline of around -1.1%. Things only turn interesting >$37.00.
*I hold (overly) long the sector via GOLD, NEM, AG, HL, KGC.
notable miner: GOLD
Barrick Gold is reflective of the sector. I’ll take this one seriously again >$23.00. Whilst that isn’t far up… ongoing price action sure isn’t pretty.
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Equities: sp’60min
Price action remains naturally choppy for OPEX. I’d look for the market makers to work their magic, with a pin around sp’4350.