US equities continue to recover. Meanwhile, the precious metals are sig’ lower, Gold -$27 (1.1%), with Silver -2.1%. The miner ETF of GDX is currently -1.7% at $35.35.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed $2679, pressured by higher bond yields, and the stronger dollar.
Silver/SLV: silver printed $30.23, pressured by the red equity market, and the dollar. The cautious will continue to favour gold, not least for a better ‘fear bid’.
GDX: miners are lower with gold/silver, and further not helped by the main market. Friday’s black candle played out… as they usually do.
notable gold miner: GOLD
Reflective of the sector.
Today’s candle is a hollow red reversal.
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notable silver miner: AG
The fifth day lower of six… if broadly choppy.
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Equities: sp’60min
S/t momentum is due to turn positive into the close, or at the Tuesday open. The daily candle is due to settle as a hollow red reversal, or even outright positive. 590o looks realistic… CPI-Wednesday.