US equities are battling to hold gains. Meanwhile, the precious metals are leaning weak, Gold -$14 (0.8%), with Silver -0.4%. The miner ETF of GDX is currently -0.3% at $26.84.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed a new cycle low of $1874, not helped by (at least initially) higher bond yields. I have to see yields and the dollar being problematic variables into the winter.
Silver/SLV: silver printed $22.61… not helped by early weakness in equities. Dollar cooling is helping.
GDX: miners opened weak, but have seen an upside reversal, if lagging the main market. The sector is arguably to be seen as problematic, if you believe the main market rolled over in July/August.
notable miner: GOLD
The seventh day lower of eight.
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Equities: sp’60min
Choppy, if set for net daily gains of some degree. I’m increasingly content to just watch… and focus on less stressful things like the laundry.