US equities are in minor chop mode. Meanwhile, the precious metals are broadly higher, Gold +$14, with Silver +1.4%. The miner ETF of GDX is currently +1.2% in the $39.92s.
GLD daily
SLV daily
GDX daily
Summary
Gold/GLD: gold printed the $1936s, clearly helped by the weaker dollar. Black candle.. from the 50dma.
Silver/SLV: silver printed $25.43, helped by the weaker dollar. Black candle… and s/t vulnerable, not least if the main market can’t hold the sp’3400s.
GDX: miners are holding sig’ gains, helped by positive gold/silver. Today’s candle is subtly spiky from under the 50dma. The miners will be dragged lower if the main market unravels.
notable miner: GOLD
Barrick Gold is higher with the sector. Major resistance around the 50dma in the $28s. I still think the 200dma is a high threat.
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Equities: sp’60min
S/t momentum is on the low side. However, it Pelosi/Mnuchin offer nothing – as seems probable, the market is not going to hold >3400 ahead of the weekend.