US equities are holding moderate gains. Meanwhile, the precious metals are sig’ lower, Gold -$25 (1.0%), with Silver -4.3%. The miner ETF of GDX is currently -0.8% at $38.70. WTIC spiked back into the $74s on a report Israel is still considering an attack on Iranian energy facilities.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed $2623, especially pressured by higher bond yields. For now, the m/t trend remains bullish.
Silver/SLV: silver printed $30.35, with daily momentum having turned negative. Any main market downside will only make things worse. The bold will still favour gold, not least for a better geo-pol’ fear bid.
GDX: miners lower with gold/silver. Any main market downside will be a problem ahead of the election.
notable gold miner: GOLD
The 6th day lower of 8, testing the 50dma.
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notable silver miner: AG
Holding up (surprisingly) very well to the sector.
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Equities: sp’60min
S/t momentum is marginally positive, and it won’t take much to turn it negative. The FOMC mins are due!