US equities remain moderately higher. Meanwhile, the precious metals are a little mixed, Gold -$6, with Silver +0.1%. The miner ETF of GDX is currently -0.5% in the $35.34s.
Weekly charts, for some perspective…
GLD
SLV
GDX
Summary
*net weekly gains for gold, silver, and the related miners. For now… its just a provisional floor. For some clarity, we need Gold >psy’1900, Silver >$26s, and GDX >38.00.
Gold/GLD: gold is churning the $1830s, having cooled back from an early high of $1852. Set for a net weekly gain of around +2.6%.
Silver/SLV: Silver continues to fare better than gold, helped by the positive main market. Set for a net weekly gain of around +6.6%.
GDX: Miners leaning weak, as yesterday’s bearish engulfing candle played out. Set for a net weekly gain of around +3.2%.
notable miner: GOLD
Barrick Gold is lower with the sector. Yesterday’s bearish engulfing candle played out. Despite the current daily decline, momentum has finally turned positive. Core support… the $22s. A failure would offer the $17s, but that seems unlikely.
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Equities: sp’60min
Price action is nano-scale chop. The remaining two hours of offer a cooling wave. You could certainly argue for some profit taking into the weekend.