US equities are broadly lower. Meanwhile, the precious metals are powerfully lower, Gold -$126 (3.1%), with Silver -$2.49 (4.2%). The miner ETF of GDX is currently -3.4% at $72.98.
Gold, daily
Silver, daily
GDX, daily
Summary
Example no’10489… the metals will get dragged down by the main market, and further pressured by the stronger dollar, as rate hikes are coming.
Gold: currently $3994. M/t bearish 3500, secondary 3000
Silver: currently $57.36. M/t bearish 50, secondary 40/35.
GDX: miners are powerfully lower with gold/silver, and further pressured by the main market.
notable gold miner: NEM
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notable silver miner: PAAS
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Equities: sp’60min
S/t momentum is on the moderately low side, but the bigger daily charts offer a red Tuesday.