US equities remain in micro chop mode. Meanwhile, the precious metals are leaning weak, Gold -$5 (0.3%), with Silver -0.9%. The miner ETF of GDX is currently -1.9% at $31.38.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed $2098 overnight/early, if cooling to $2081, not helped by an upside reversal in the dollar. Gold bugs should be content with the first ever yearly close above psy’ $2K. Big target for March/April remains 2400/2500.
Silver/SLV: silver printed $24.29, still distinctly lagging gold and the main market. Show me silver >$30, and then serious talk of a new hist’ high >$50 can begin. Otherwise… its just year FOUR of chop.
GDX: miners are very sig’ lower. Mostly… its just cyclical. M/t bullish with gold.
notable gold miner: NEM
Cooling back with the sector. I hold the stock. Might add, but in no hurry today.
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notable silver miner: AG
Lower with the sector. I would favour the gold miners above silver.
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Equities: sp’60min
The micro chop continues.