US equities are a little higher… ahead of the fed. Meanwhile, the precious metals are moderately mixed, Gold +$2 (0.05%), with Silver -22cents (0.6%). The miner ETF of GDX is currently -0.1% at $53.46.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold is churning around $3388. Ongoing price action is arguably just bullish consolidation, ahead of new hist’ highs. The only concern would be spiking bond yields this Sept/Oct’. On any such cooling, gold would become a monstrous buying opp’.
Silver/SLV: silver is moderately lower, currently around $36.86.
GDX: miners broadly flat.
notable gold miner: B
S/t overbought… not helped by the Mali regime
–
notable silver miner: AG
Bearish engulfing candle
–
Equities: sp’60min
As ever, the initial move is usually NOT the one the market will go with.