The metals were off, but the miners did well. I’m only guessing, but I’m wondering if other currencies going down is creating demand for the miners by foreign buyers in their own currencies, and they’re driving the miners, while the metals also rise in their currencies… but not in the $USD. In any case, we go to the charts.
We begin with gainers on average volume: PAAS, PVG, CDE, FSM, SGDJ and SLW.
And, we’ve got gainers on big volume in: HL, RGLD, ABX.
Others also rose, but their volume was rather weak: SILJ, SSRI.
Gold exceeded its previous low to the downside, but closed back up to keep its loss from being great, and the volume was only average. Silver rose a bit within SLV, but volume was quite light.
A few lost, as AG did, on light volume, as did GDX. SGDM lost, too, but on average volume.
A look at the total volume for all 16 shows that it was only 6% below average… which we can just call average.
Here’s to your accumulation of real wealth!
Harold F Crowell