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Most U.S. index ETFs were lower as the major market averages were narrowly mixed. S&P 500 funds remained in buy range after breaking out Thursday.
Gold and other precious metals gained. VanEck Vectors Junior Gold Miners (GDXJ) rose 1.3%. It’s still 6% below its 50-day moving average, where it’s found resistance since mid-April. VanEck Vectors Gold Miners (GDX) added 0.9%.
SPDR Gold Trust (GLD) and iShares Gold Trust (IAU) advanced 0.9%. Both ETFs are working on cup-with-handle bases with respective buy points at 123.17 and 12.54. Gold prices were up 0.8% to $1,266.10 an ounce.
VanEck Vectors Junior Gold Minders (GDXJ) was up 1.3%, while VanEck Vectors Gold Miners (GDX) was up 1%. Both are more than 20% below their 52-week highs and trading below their 50-day and 200-day moving averages,
ETFS Physical Platinum (PPLT) gapped up and rose 1.7%, back well above its 50-day line for the first time in over a month. ETFS Physical Palladium (PALL) popped 2.3% and is testing resistance at its 50-day moving average.
Oil plays were also higher as West Texas intermediate crude futures climbed 0.3% to $49.05 a barrel ahead of Baker Hughes’ weekly rig count due out at 1 p.m. ET.
VanEck Vector Oil Services (OIH) lifted as much as 0.4%, while SPDR S&P Oil & Gas Exploration & Production (XOP) was flat. United States Oil (USO) and PowerShares DB Oil (DBO) rose as much as 1.1% in early trading Friday.
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