Yes, and the miners will fall with the market. Traders will be searching for any source of cash to meet margin calls. Gold will tank. DUST will quadruple at least. Check this post in a few days.
Long term peak in 2011 after 10 year rise. Falling for 5 years. 5 years of decline to go. Short term bear market rally early 2016. Now we are seeing continuation of the long and short term fall. A few more short term rallies while we fall the next 5 years.
They will do what it takes to bail out their crashing economy including sell gold, and devalue their currency. Both actions are extremely bearish for gold prices in terms of U.S.D. Look for gold to fall versus U.S.D. considerably this week. Miners are toast. DUST will soar. You read it here first. You are welcome.
dj_rocks_it: You are right on target with this scenario so far. Do you expect it to play out as you suggested? I sure hope so.
Don't buck the trend. It has erratically, but surely fallen for a month. Two months from now the "professionals" will come out of the woodwork and declare this message. Too bad they are too late.