US equities are powerfully lower. Meanwhile, the precious metals are significantly lower, Gold -$26 (1.6%), with Silver -2.4%. The miner ETF of GDX is currently -3.2% at $28.16.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: cooling from $1829s to $1794, partly on higher rate expectations (via better than expected GDP), and partly on the stronger dollar. The monthly settlement is set to be… borderline.
Silver/SLV: cooling from $24.32 to $23.57, hit by the weak main market, but also the dollar. Its hard not to see capitulation to the 14/13s… if the main market is smashed lower in 2023.
GDX: miners lower with gold/silver, and further pressured by the main market.
notable miner: GOLD
Reflective of the sector.
—
Equities: sp’60min
No sign of a s/t cyclical floor/turn… but one is due.