US equities are rather powerfully lower. Meanwhile, the precious metals are broadly lower, Gold -$23 (0.8%), with Silver -45cents (1.5%). The miner ETF of GDX is currently -2.7% at $40.53.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold is churning around psy’ $2900. Little reason not to expect a formal hit of giant psy’ $3K
Silver/SLV: silver printed $32.50, largely dragged down by the main market… as is typically the case.
GDX: miners lower with gold/silver, and the main market. Another reminder that if you’re bearish equities… the default would also be bearish silver, miners, and crypto.
notable gold miner: GOLD
Fairing better than the sector
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notable silver miner: AG
As ever, silver miners will tend to fair worse.
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Equities: sp’60min
New cycle low 5619.
A daily close >200dma (5735) looks out of range.
Next support… around 5400.