A Bear Market in Gold Miners

In the chart below we see the Market Vectors Gold Miners ETF at the lowest close of almost the past four years.  Should this ETF drop another dollar, it'll also be hitting the lowest intraday price of almost the past four years.  Typically bull markets are not characterized by multi-year lows.   

 

China Readying Bullion-Backed Gold ETFs.  Some think this news may be the saving grace for gold and silver.  More likely it is yet another sign of the top having come and gone in precious metals.

George Soros dumps gold as prices sink.  Gold bugs once stridently celebrated Soros' buying of gold, claiming it was extremely bullish.  They are now of course dead silent about his selling. 

Sooner or later there will be a proverbial stampede for the exits and shares in gold-related ETF's, along with their physical holdings, will be dumped hard and fast.  At that time, something like this past week's big plunge in gold and gold miners will be looked back upon fondly as the good old days.


    

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