US equities are choppy, if still net lower. Meanwhile, the precious metals are significantly lower, Gold -$18 (1.0%), with Silver -4.1%. The miner ETF of GDX is currently -3.9% at $30.17.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed $1940, partly just an ongoing s/t trend… partly the moderately stronger dollar. The concern should be bond yields, which look prone to climbing across the summer. If the US 10yr >4.10%, gold looks highly vulnerable to around $1700.
Silver/SLV: silver printed $23.10, not helped by the main market, and the stronger dollar. It remains difficult not to see sub $20 late summer/fall.
GDX: miners smashed lower, especially pressured by silver.
notable gold miner: GOLD
An 8th day lower… lousy.
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notable silver miner: AG
A new multi-year low. The 10th day lower 12.
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Equities: sp’60min
We’ve already a tag of the opening gap.
S/t momentum might turn positive tomorrow with the Powell.