US equities are choppy, if sig’ higher. Meanwhile, the precious metals are positive, Gold +$6 (0.3%), with Silver +1.8%. The miner ETF of GDX is currently +4.7% at $29.59.
Weekly charts for some perspective…
GLD
SLV
GDX
Summary
Gold/GLD: gold printed $2011, helped by lower bond yields and the weaker dollar. However, its once again cooled back to around $2000, as psy’ $2K is still seeing some sellers appear. Set for a net weekly decline of around -0.8%.
Silver/SLV: silver printed $23.42, helped by the positive equity market, and the dollar. Set for a net weekly gain of around +0.3%.
GDX: miners are powerfully higher, helped by gold/silver, and the main market. Set for a net weekly gain of around +1.3%.
notable gold miner: GOLD
Recent earnings were broadly good.
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notable silver miner: AG
Bouncing after yesterday’s post earnings smackdown.
The cautious will leave well alone.
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Equities: sp’60min
Mild cooling from 4368.
Clearly set for net gains of some degree.
S/t momentum set to turn negative next Monday.
Basic retrace of the 4260s looks out of range until early Tuesday.