US equities are broadly lower. Meanwhile, the precious metals are broadly higher, Gold +$20 (1.2%), with Silver +0.5%. The miner ETF of GDX is currently +0.5% at $26.94.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed $1815, if recovering to around $1835. Higher yields/rates will remain a broad downward pressure into/across the spring. If the dollar strengthens – as seems likely, gold looks doomed to the mid $1600s, if not the mid $1300s.
Silver/SLV: silver printed $20.03… not helped by the shaky main market. M/t bearish… 14/13s.
GDX: miners choppy with the main market. M/t bearish with gold/silver, and the main market.
notable miner: GOLD
Reflective of the sector.
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notable miner: WPM
Wheaton Precious metals has earnings in AH.
The concern should be lower silver this spring.
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Equities: sp’60min
A new cycle low, as we’re seeing the more cautious bail ahead of Friday’s jobs data. The spiraling financials are really not helping!
*the daily candle is currently bearish engulfing and bodes bearish for Friday. VIX 20s is a… problem.