US equities are battling to build moderate gains. Meanwhile, the precious metals are broadly higher, Gold +$16 (0.9%), with Silver +1.3%. The miner ETF of GDX is currently +1.4% at $30.94.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed the $1819s, partly helped by a cooler dollar. Clearly, tomorrow’s CPI data will have a strong bearing on gold/silver. A hotter than expected CPI could be expected to result in (at least initially) higher rate expectations, and thus… lower gold/silver. Regardless, a mess until >$1879s
Silver/SLV: silver printed $22.82, helped by the positive main market, and by the weaker dollar. A mess until >$25.50.
GDX: miners bouncing with the main market, and helped by gold/silver. A mess until >$36s.
*I hold long the quintet of GOLD, NEM, AG, HL, KGC.
notable miner: GOLD
Barrick Gold reflective of the sector. A mess until >$22s
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Equities: sp’60min
S/t momentum is on the high side. We should hold under upper bollinger of around 4730, and resume lower on Wednesday.