2pm update – metals and miners

US equities are choppy, if still leaning net lower. Meanwhile, the precious metals are leaning upward, Gold +$5 (0.3%), with Silver +0.4%. The miner ETF of GDX is currently -2cents at $28.77.

GLD daily

SLV daily

GDX daily

Summary

Gold/GLD: printing $1836, if recovering to $1854. Despite a bounce, set for a fourth consecutive net weekly decline.

Silver/SLV: printing $21.40, if recovering to $24.70s… helped by the recovery in the main market.

GDX: miners sig’ lower in early market, but recovering to broadly flat. The problem shall remain… the main market.

notable miner: GOLD

The fifth day lower of seven. No real sign of a turn.

Equities: sp’60min

Chop chop… as the market feels tired. I would look for weak leaning chop on Friday, with an OPEX pin around 4100.