US equities remain in algobot upward melt mode. Meanwhile, the precious metals are very significantly higher, Gold +$22 (1.3%), with Silver +2.3%. The miner ETF of GDX is currently +1.9% in the $32.78s.
Weekly charts for perspective…
GLD
SLV
GDX
Summary
Gold/GLD: gold has printed $1781, distinctly helped by the weaker dollar. Set for a net weekly gain of around +0.9%. Things turn interesting above the most recent lower high of $1837s, >1850 to be decisive.
Silver/SLV: silver printed $23.83, but that still makes for a net weekly decline of around -2.3%. A truly lousy performance, not least to gold, copper, and the main market.
GDX: miners ending the week on a positive note, but still set for a net weekly decline of around -1.4%. Things turn interesting >$37.00.
*I hold (overly) long the sector via GOLD, NEM, AG, HL, KGC
notable miner: GOLD
Barrick Gold reflective of the sector. A short/mid term mess. Things turn decisive >$23.00.
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Equities: sp’60min
The incessant, and positive leaning chop… continues.