Bear Came And Drove Out Gold Enthusiasts, Will Silver Decrease As Well?

[FXMAG]

The market was up, but mining stocks chose to reverse. Meanwhile, gold sent a clear signal to investors. So, when everyone buys, what happens?

The gold mining stocks and silver mining stocks have reversed, even though gold didn’t. The top for the former is likely in.

Most developments regarding the precious metals and their immediate surroundings were a continuation of what we had seen in the previous days, but one thing was different. That one thing is particularly informative. It has trading implications, too.

Without further ado, let’s jump into mining stocks.
Gold miners fell. Even though they declined by just $0.06, it was profound. The miners were following gold higher during the early part of yesterday’s (Feb. 9) session, but they lost strength close to the middle thereof and were back down before the closing bell.

If the gold price reversed and then declined during the day, that would have been normal. However, gold stayed up.

https://www.fxmag.com/forex/bear-came-and-drove-out-gold-enthusiast...

https://www.fxmag.com/forex/the-question-is-how-will-price-of-gold-...