Gold down 1/2%. AUY down 2 1/2%. Hate that when it happens.
AUY 52 week Range is 3.31 to 17.00. Gold's 52 week range is roughly 700 to 1000. AUY obviously moves more than Gold both ways! Your's is not a fair complaint.
Gold currently down only 10% today from high. AUY down more than 50% from its high. What's your point?
As some have mentioned before, AUY may follow the general market rather than it's own resource, precious metals.
You need to compare AUY with GDX, not GLD.GDX down more than GLD also (about 2% now). http://finance.yahoo.com/echarts?s=AUY#chart3:symbol=auy;range=5d;compare=gdx+gld;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
There's more to it than that - the dollar is showing strength today plus the general market is in correction mode.