US equities are broadly lower. Meanwhile, the precious metals are moderately mixed, Gold +$8 (0.5%), with Silver -0.1%. The miner ETF of GDX is currently -0.3% at $31.34.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed $1853… holding up, partly fear-bid related. A push >1879s… would offer a flash spike to psy’ $1900. Russia/Ukraine >$2K ?
Silver/SLV: silver printed $24.05, if cooling back to the upper $23s. The problem remains the main market, which will pin this back. A mess until >$25.50.
GDX: miners struggling silver and the main market. A mess until >$36s.
*I hold GOLD, NEM, AG, KGC, HL
notable miner: GOLD
Barrick Gold reflective of the sector. Short/mid term chop until >$22s.
—
Equities: sp’60min
The market continues to burn off s/t oversold conditions. The bears should be content, for what is consolidation, and an ABC bear flag.