US equities are leaning a little higher. Meanwhile, the precious metals are leaning higher, Gold +$7 (0.4%), with Silver +1cent. The miner ETF of GDX is currently +1.2% at $32.04.
GLD daily
SLV daily
GDX daily
Summary
*today’s weaker dollar and lower bond yields is clearly helping gold, silver, and the related miners.
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Gold/GLD: gold has printed $2095. S/t very over-stretched, but a yearly close >$2100 is clearly viable, with >$2000 assured. M/t bullish 2400/2500 by March/April.
Silver/SLV: silver printed $24.73, still a considerable way from psy’ $30, which I see as important. I will favour Gold for Q1.
GDX: miners higher with gold/silver. Today’s candle is a little spiky on the upper side, from what is a key price threshold. The more cautious s/t bulls will be such… not least ahead of a Thursday.
notable gold miner: NEM
Higher with the sector.
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notable miner: GOLD
Leading the sector upward.. as yesterday’s black candle failed to play out.
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Equities: sp’60min
A new cycle high of 4785… somewhat impressive, as s/t momentum is flat-lining.