US equities remain in weak leaning chop mode, ahead of a press release from Print Central (FOMC minutes). Meanwhile, the precious metals are broadly weak, Gold -$3 (0.2%), with Silver -1.0%. The miner ETF of GDX is currently -2.4% in the $31.48s.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold swung from $1795 to $1778. A s/t mess until the most recent lower high of $1837s is cleared. >1850 to be decisive.
Silver/SLV: silver printed $23.27, if recovering to the mid $23s. Partly pressured by the main market. A lousy performance relative to copper, which is holding around the 2011 hist’ highs.
GDX: miners lower for a third day, as the March low isn’t far away. A short and mid term mess, as gold/silver just can’t catch a sustained bid.
notable miner: AG
First Majestic Silver testing key price threshold/support of the 11.80/70s. If this isn’t capitulation, I don’t know what is.
—
Equities: sp’60min
Chop chop… if leaning weak. Bulls should be at least a little twitchy ahead of a Thursday.