GDX - miners dragged lower by the metals

With precious metals seeing very significant net daily declines (pressured by a stronger USD), the related mining stocks were severely impacted. The ETF of GDX settled lower by -5.9% at $13.33. New multi-year lows look due, with the 12/11s viable in the immediate term, as Gold is set to test the $1000 threshold.


GDX, daily

GDX, monthly

Summary

Suffice to add... it remains pretty straight forward.

Regardless of however strong the main equity market might be, the mining stocks are going to be seriously damaged as the precious metals periodically break new multi-year lows.
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Best guess... Gold to test $1000, and probably 900/875 in 2016. If correct.. that probably equates to at least another 15/20% off most individual miners.