US equities are holding sig’ gains. Meanwhile, the precious metals are broadly higher, Gold +$10 (0.6%), with Silver +1.8%. The miner ETF of GDX is currently +2.7% at $25.03.
Weekly charts for perspective…
GLD
SLV
GDX
Summary
Gold/GLD: gold printed $1740, if cooling back to $1730. Today’s cooler dollar certainly helped. The only hope for gold is a geo-political scare, which is by definition, a wild card. Set for a net weekly gain of around +0.4%.
Silver/SLV: silver printed $18.86, helped by the positive main market, and the cooler dollar. I have to see the main market as the threat into early Nov’. Set for a net weekly gain of around +4.6%.
GDX: miners higher with gold/silver, and further helped by the main market. Problematic with the main market. Set for a net weekly gain of around +5.2%.
notable miner: GOLD
Reflective of the sector.
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Equities: sp’60min
A new cycle high of 4069. We’re set for a net daily and weekly gain. The weekly candle is bullish engulfing, and highly supportive of 4100 or so… before reversing.