The last downturn of gold and silver brought the yellow metal to a Thursday close of $1266.2 to end the week at 1273.2, easing barely 0.53% over the week. However the HUI plunged 5.31% leveraging gold down tenfold. Miners have been persistently lagging the metals for most of 2017. Whatever well paid perma-bulls may want you to think, the gold mining sector is not the place to be. It can reward you during the short stretches up, but you may end up penniless over the long haul.
Not surprisingly the HUI/Gold ratio dropped to a six months low. The
gold miner pulse page tells you all in a few graphs. The
Miners performance page also was updated, with a glance on the slide of the last few weeks and the (quite cumbersome) individual performance of most miners and explorers over the long haul.
Miners ETFs were off only marginally better than the HUI, with weekly declines between 2.84% and 4.49%. Poor comfort: with a 2.44% decline our
contributor driven Explorer and Junior Miners spreadsheet is off somewhat less bad. We had declines outnumbering advances 10 to 3 on the list, with Liberty gold flat for the week. With a slide in excess of 8%, Almaden Minerals and Eurasian Min. were the major drags on the list. Tiny advances for Osisko Royalties, Sandstorm and Pretium were unable to curb the trend.