US equities are significantly lower. Meanwhile, the precious metals are leaning upward, Gold +$1, with Silver +0.7%. The miner ETF of GDX is currently -1.3% at $31.17.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold was initially lower on the CPI data, but swung upward to the $1843s with the downside reversal in the USD. For now… its all s/t chop. Gold bugs need >$1879s… >psy’ $1900 to be decisive.
Silver/SLV: silver printed $23.74… largely helped via the cooler dollar. Things turn decisive >$25.50.
GDX: miners mostly just dragged lower by the main market.
*I hold the quintet of GOLD, NEM, AG, HL, KGC. The bigger weekly cycles are offering something interesting into the spring, and I’m tempted to add.
notable miner: GOLD
A second day lower… just main market pressure.
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Equities: sp’60min
S/t momentum has turned negative, and its arguably leading to some algo selling. Soft support 4480. Only alarm bells if <4451.