US equities are choppy, leaning fractionally positive. Meanwhile, the precious metals are broadly lower, Gold -$7 (0.4%), with Silver -1.1%. The miner ETF of GDX is currently -1.1% in the $38.21s.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed $1906, but has cooled back the $1895s, partly pressured by the marginally higher dollar. Old resistance > new support.. $1850s.
Silver/SLV: silver printed $27.61, pressured by the main market and the dollar. S/t vulnerable.
GDX: miners are sig’ lower, pressured by gold/silver, and the somewhat shaky main market. S/t very vulnerable.
*I hold long the sector via GOLD, AG, KGC, HL, but am ‘light’ in all four, and to re-add with sp’4000.
notable miner: GOLD
Barrick Gold fairing a little better than the sector. S/t vulnerable, not least if the main market takes a dive with the CPI data.
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Equities: sp’60min
The minor chop continues. There will be threat of another swing lower, esp’ from around 2.30pm onward.