Gold Stocks Hold Their Ground

GDX held up rather well today with gold down 2.40% for the day.  GDX was only down 2.64% and many leading gold stocks were down less than gold.  GDXJ was down over 4% but SIL the silver miners ETF was only down 3%, not much more than silver.  Impressive relative strength against gold.  This is the type of action you’d expect in a gold bull market, not in a bear market.  In a bear market the gold stocks would get trashed with gold down this much.  Also palladium was barely off for the day.

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