US equity indexes are turning positive. Meanwhile, the precious metals are sig’ lower, Gold -$28 (1.0%), with Silver -49cents (1.6%). The miner ETF of GDX is currently -1.9% at $44.31.
Weekly charts for perspective…
GLD
SLV
GDX
Summary
Gold/GLD: gold printed a low of $3004, as psy’ $3K is naturally new support. With a new hist’ high of $3056 this week, its been another week for the gold bugs.
Silver/SLV: silver printed $33.17, mostly due to the weak main market, and the marginally stronger dollar.
GDX: miners are very sig’ lower with gold/silver.
notable gold miner: GOLD
Most reflective of the sector.
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notable silver miner: AG
S/t cyclically high, and the cautious will not be chasing.
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Equities: sp’60min
SPX set to turn positive… following the Nasdaq and Dow.
S/t momentum prone to turning positive into the close.