US equities remain broadly weak. Meanwhile, the precious metals are moderately weak, Gold -$4, with Silver -0.3%. The miner ETF of GDX is currently +0.5% in the $34.41s.
For some perspective, weekly charts…
GLD
SLV
GDX
Summary
Gold/GLD: gold printed $1767, a new cycle low, and a clear $300 below the Aug’ hist’ high of $2089. Net monthly decline of around -5%
Silver/SLV: Silver printed $21.95, but recovering to the $22.60s. Core support 21/20s. Net monthly decline of around -5%
GDX: Miners saw a morning reversal, vainly managing to hold above last weeks low. Net monthly decline of around -8%
notable miner: NEM
Newmont is battling for net daily gains. For the month, net lower by around -8%.
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Equities: sp’60min
Price action remains choppy, still leaning on the weaker side. S/t momentum is on the low side, and the s/t setup favour the bulls on Tuesday.