12pm update - meanwhile... metals and miners

Whilst the broader US equity market continues to battle it out, there remains notable strength in the precious metals, with Gold +$14 in the $1290s, and Silver +1% in the mid $17s. The related mining stocks are naturally back in surge mode, the ETF of GDX +4.9% in the $25s


GLD, daily

GDX, daily

Summary

Not much to add, the near/mid term outlook for metals and miners is very bullish. We're seeing strong gains whenever there is any weakness/concern in the US/world capital markets.

If Gold 1400/1500s.. GDX 35/40 zone.... which considering it was in 12s in January would be a truly massive climb.

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As for equities.. it remains (bizarrely) the case that the mainstream seem almost entirely unconcerned about anything.. and no doubt, some are still expecting new highs after this 'huge' correction from 2111 to the 2030s.

The bigger weekly cycles are continuing to swing back toward the bears, but clearly... the bigger move will not be until the latter half of the month.
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time to see what the cheerleaders are saying on clown finance TV.