US equities are choppy, if mostly leaning weak. Meanwhile, the precious metals are significantly higher, Gold +$24 (1.1%), with Silver +$1.08 (4.0%). The miner ETF of GDX is currently +2.2% at $34.44.
GLD daily2
SLV daily2
GDX daily
Summary
Gold/GLD: gold printed $2379, which is more impressive relative to higher bond yields and a stronger dollar. Daily momentum due to turn positive. A monthly settlement >$2400 appears probable.
Silver/SLV: silver powering upward, printing $30.84, as the $31s appear probable on Friday/Monday. Daily momentum due to turn positive next Monday.
*I still hold an SLV CALL block, but I need to roll out from July to (at least) August. I’ll hope for an exit with SLV near/at $30 next week, and that will require commodity silver $33s.
GDX: miners are powering upward with gold/silver… as the sector appears to have secured a floor… in sync with the energy stocks.
notable gold miner: GOLD
A third day higher.
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notable silver miner: PAAS
A second day higher.
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Equities: sp’60min
Choppy, if leaning weak… printing 5455, some 50pts (1.0%) below the early hist’ high.