IKN

Win us with honest trifles

Five days of metals and miners: May 5th

The regular Saturday slot: The last five days’ worth of action in the gold bullion ETF (GLD), the silver bullion ETF (SLV), the miner ETF (GDX), the junior miner ETF (GDXJ) and the copper ETF (COPX).
When I first drew up the chart, the thought that struck was that it’s a mirror image of last week’s edition. In fact that’s not quite true (though I had to check) as for one thing GDXJ was last week’s big winner, rather than COPX. But of all the lines, the COPX one is the most interesting, a pretty classic reaction to a poor U.S. jobs figure, no matter that we’ll hear unemployment’s down to 8.1% on the headline number. 
As for the juniors, it was looking pretty positive up to about midday Tuesday. Thursday was plain nasty.

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