US equities remain in minor chop mode. Meanwhile, the precious metals are mixed, Gold +$6 (0.3%), with Silver -1.1%. The miner ETF of GDX is currently +0.4% at $40.67.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: a new hist’ high of $2659. A marginal higher high, but its another reminder of m/t strength. A push to psy’ 3K is due before year end.
Silver/SLV: silver cooled to $30.67… a lousy perfom’ relative to superior sister Gold.
GDX: new multi-year high, as the miners are battling to hold moderate gains. The concern should be if the main market has/near to putting in a m/t top. Even if gold is 3K before year end, if the main market is sig’ lower, the miners could be expected to be net lower to at least some degree.
notable gold miner: GOLD
Barrick has turned negative, as Friday’s black candle played out.
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notable silver miner: AG
Distinctly stuck… much like the sector.
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Equities: sp’60min
Chop chop. S/t momentum remains marginally negative, as the setup favours the bulls.