The precious metals sector was likely to decline, and that’s exactly what it did yesterday. The USD Index soared once again, also as we expected. Let’s analyze what happened in gold price, silver price, and mining stocks. {chart} As I already wrote, they all declined, but the way in which they declined suggests that the move lower is just starting. You see, mining stocks underperformed gold once again. The GDXJ was down by 1.25%, while GLD was down by only 0.52%. The profits from our short position in the GDXJ have just increased. Also, the GDXJ fell decisively below its previous September lows, while neither GLD nor ... (full story)