Gold and silver declined yesterday, but the really profound action was seen in the precious metals mining stocks. Both key indices for this sector (the HUI and XAU) declined below their respective 2008 lows and managed to close below them.
What’s next? Will gold and silver stocks bounce like they did in late 2014?
Before moving to the situation in the XAU and HUI, let’s take a look at the metals, starting with gold.