US equities are still clawing upward. Meanwhile, the precious metals are rather powerfully lower, Gold -$89 (2.4%), with Silver -$1.46 (3.3%). The miner ETF of GDX is currently -3.8% at $70.01.
Weekly charts for perspective...
GLD
SLV
GDX
Summary
*weekly momentum for gold, silver, and the miners, could easily tick lower for 'some week's to come.
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Gold/GLD: new s/t low, currently around $4006. Clearly, psy' 4K is an important level. A grander washout to around big support 3500/3400s appears probable before year end.
Silver/SLV: new s/t low, currently around $46.91. Big support psy'$40/39s
GDX: new s/t low, clearly due to weak gold/silver.
notable gold miner: AEM
Losing the 50dma
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notable silver miner: PAAS
Another one... that can't hold the 50dma.
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Equities: sp'60min
New hist' high of 6862. Impressive, as the bigger weekly chart is offering the 6900s.
