Gold up… silver down… miners UP! Well, except for AG. It would appear to be cRaZy. And, a look at the intra-day charts would convince you of it. You can look at them in relation to a $USD chart and see the effect and influence the one has upon the other. Interest rates move the dollar, and the dollar moves the metals. In any case, we want to know where the metals are at… and, it’s a bull market, until it isn’t. What will the charts say about volume? I’ll guess it’s picking up some, but still not seriously heavy. It will when a trend breaks one way or the other… and, it ought to be up.
Up on average volume is: GLD, PVG, CDE,
Up on light volume would be: HL, GDX, SGDJ, ABX, FSM, SGDM, SILJ, SLW, SSRI, PAAS,
Up on big volume: RGLD,
Now, SLV was down, like I said, but on light volume; while AG was also off, and on almost average volume.
Overall volume today was actually down by 18%, so today’s move was another on little conviction… and, this is a market, holding price support, and awaiting any good reason to rally again. So, we continue our vigil.
Here’s to your accumulation of real wealth!
Harold F Crowell