US equities are in micro chop mode. Meanwhile, the precious metals are broadly higher, Gold +$10 (0.6%), with Silver +1.0%. The miner ETF of GDX is currently +0.5% at $31.93.
Weekly charts for perspective…
GLD
SLV
GDX
Summary
Gold/GLD: gold printed $1829, but its been a lousy year. Set for a net weekly gain of around +1.1%.
Silver/SLV: silver printed $23.39. Its a mess until >$25.50. Set for a net weekly gain of around +1.9%.
GDX: miners fairing better than the main market, largely helped via gold/silver. Set for a net weekly gain of around +2.0%.
notable miner: GOLD
Barrick Gold reflective of the sector. Today is threatening a stall from around the 50dma. Set for a net monthly decline of around -0.5%.
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Equities: sp’60min
Chop chop… as the 4730s still appear a valid minimum target, if not until next Monday.
*yours truly has been lightening up in CLF and X, and has dropped a semi-dead SLV CALL. I should have waited for a decisive break above the key $25.50 threshold. In any case… clearing the decks is arguably a good thing into end month/year.