US equities are broadly higher. Meanwhile, the precious metals are very mixed, Gold +$14 (0.8%), with Silver -0.3%. The miner ETF of GDX is currently +0.4% at $31.00.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed $1936… but did recover to $1972, especially helped by the weaker dollar and lower bond yields. I see little has changed for those two variables, which will likely be a problem for gold across the summer.
Silver/SLV: silver printed $23.27, but also saw an upside reversal to the low $24s, helped by the positive main market.
GDX: miners are higher… if lagging the main market.
notable miner: GOLD
News: First Quantum Minerals has rejected a takeover offer from Barrick.
As is typically the case, the bidder gets knocked lower.
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notable miner: FQVLF
First Quantum is naturally higher by around 10%, as many expect Barrick to return with a better offer.
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Equities: sp’60min
Micro chop, if still leaning upward, as some are perhaps turning off their screens… and already walking away for the long weekend.