US equities are choppy, if above the lows. Meanwhile, the precious metals are very significantly lower, Gold -$33 (1.8%), with Silver -2.1%. The miner ETF of GDX is currently -4.3% at $35.35.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed the $1892s, s/t broken… not helped by further strength in the dollar.
Silver/SLV: silver printed $23.42, pressured by the weak main market, and also the dollar. A s/t mess until >$25.50, and that looks difficult, considering the main market outlook into May/June.
GDX: miners lower with gold/silver. S/t oversold… due a bounce.
*I hold long via GOLD, AG, HL, KGC.
notable miner: NEM
Newmont set for another reversal candle. Due a bounce.
notable stock: GOLD
Lower with the sector. Last Friday’s reversal candle failed to play out.
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Equities: sp’60min
We’re bouncing, but I’d remain open to early Tuesday weakness. 4188/73 gap… would make for a better floor.