US equities are holding moderate/broad gains. Meanwhile, the precious metals are a little higher, Gold +$5 (0.3%), with Silver +0.4%. The miner ETF of GDX is currently +0.7% at $31.37.
Weekly charts for perspective…
GLD
SLV
GDX
Summary
Gold/GLD: gold printed $1812, if still a considerable way below the Nov’ $1879s. Set for a net weekly gain of around +0.8%.
Silver/SLV: silver printed $22.97. Its a mess until >$25.50. Set for a net weekly gain of around +2.5%.
GDX: miners leaning upward with the main market. Still a m/t mess until we’re above declining trend… >$36s (>37 to be decisive). Set for a net weekly gain of around +2.5%.
*I hold long via GOLD, NEM, AG, HL, KGC. Marginally tempted to add, but I’m already loaded in the miners, and I should focus on picking up F, or something else.
notable miner: NEM
Newmont fairing far better than the sector, and I’m not sure why. Am suspicious some of the big money are quietly building a position.
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Equities: sp’60min
S/t momentum continues to slowly weaken, but should remain positive, all the way into late Monday.