The Gold miners spiked up with the Gold contract, but again followed the indexes down in today's sell off. I have not seen this level of divergence from gold by the miners in the 3 years I have been following them. What this tells me is that people are flattening all equity positions in droves and the bears have come out to raid the picnic.
One or two more days of red indexes and the aggressive Mutual Funds will get more orders to go flat , adding to the sell off.
Gold is still the safe haven but the miners have become a question mark. Why would an individual short the miners when Gold has so much support with the Fed and IMF diluting world currencies.
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One or two more days of red indexes and the aggressive Mutual Funds will get more orders to go flat , adding to the sell off.
Gold is still the safe haven but the miners have become a question mark. Why would an individual short the miners when Gold has so much support with the Fed and IMF diluting world currencies.
Please comment