US equities are moderately lower. Meanwhile, the precious metals are fractionally mixed, Gold +1cent, with Silver -0.1%. The miner ETF of GDX is currently -0.6% at $26.73.
GLD daily
SLV daily
GDX daily
Summary
*the grander problems remains… higher yields/rates are inherently bearish. Further, any main market downside will be a problem, especially for silver and the related miners.
Gold/GLD: printing $1813, currently $1818… helped by the weaker dollar.
Silver/SLV: printing $19.96, the lowest since Oct’2022. Any further downside in the main market, and/or dollar strength, won’t help!
GDX: miners are moderately lower with the main market.
notable gold miner: GOLD
Reflective of the sector.
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notable silver miner: WPM
Holding up better than sister stocks AG and PAAS. Earnings due Thurs’ AH
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Equities: sp’60min
A new intraday low of 3969, but its mostly just chop. Other than s/t cyclical factors, the bulls next hope is a ‘Goldilocks’ job print on Friday.
*I’ve added a possible C wave UP… but confidence is LOW. I sure ain’t buying into this… and merely looking to re-short, but am in no hurry.