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.
