US equities are clawing back upward. Meanwhile, the precious metals are leaning upward, Gold +$4 (0.2%), with Silver +0.9%. The miner ETF of GDX is currently +1.7% at $42.23.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold overnight printed a new hist’ high of $2973, if cooling back to currently $2955. Giant psy’ $3K is clearly viable in the near term.
Silver/SLV: silver printed $33.79, pulled upward by superior sister gold, and further helped by the moderately weaker dollar.
GDX: miners are very significantly higher, largely due to gold.
notable gold miner: NEM
Newmont has earnings in AH, which should be fine.
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notable silver miner: AG
Earnings were mixed…
EPS 3cents vs 4est. Rev’ y/y +25.9% to $172.3M vs 159.0est.
The cautious will favour the gold miners.
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Equities: sp’60min
6084 makes for an ideal s/t floor… ahead of OPEX Friday.