With AU and AG off so much I would not been surprised
to see miners off 3-4-5%.
They are particularly resilient in the face of this PM dip today.
In light of that,I think we are on the cusp of another run shortly.
Is the glass half full? Maybe, but that's my perception.
I have noticed on a couple of occasions in the recent past where the miners outperformed the physical metals when the U.S. dollar was also falling along with the physicals. Just an observation.
Generally, mining equities take their cues from the metals they mine. However, I suspect there are many investors in mining equities who believe there should be an inverse relationship between the physicals and the dollar. So.....a falling dollar, if it persists, should be great news for mining equities....as well as their underlying metals.
Who knows for sure! Perhaps some major hedge fund players are shorting the physicals as they grab mining stocks. It seems the "game" is always afoot!