US equities remain broadly lower. Meanwhile, the precious metals are sig’ higher, Gold +$32 (1.2%), with Silver +72cents (2.5%). The miner ETF of GDX is currently +2.5% at $41.52.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed $2929, helped by the weaker dollar. A hit of giant psy’ $3K is clearly viable with next week’s FOMC.
Silver/SLV: silver printed $33.40, which is far more impressive relative to the main market.
GDX: miners are very significantly higher, helped by gold/silver/copper.
notable gold miner: GOLD
Lagging the sector… for no good reason.
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notable silver miner: EXK
Better than expected EPS, whilst revenue was lousy…
EPS 2cents vs -2est. Rev’ y/y -16.4% to $42.20M vs 50.15est.
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Equities: sp’60min
A new cycle low of 5528.
Yes, we’re trying to bounce… again.