Today's chart of the day once again focuses on the precious metals sector, just like the past several days ago. Precious metals have been in a bear market since 2010/11 period, depending on which asset class we are discussing. Let us make a few observations:
- Gold (via SPDR Gold Trust (ARCA:GLD)) peaked in early September 2011 and is currently down as much as 41% using intraday peaks and troughs
- Silver (via iShares Silver Trust (ARCA:SLV)) peaked in late April 2011 (not shown in the chart) and is currently down as much as 71% using intraday peaks and troughs
- Gold Miners (via Market Vectors Gold Miners (ARCA:GDX)) peaked in early September 2011 (just like spot Gold) and is currently down as much as 75% using intraday peaks and troughs
- Junior Gold Miners (via Market Vectors Junior Gold Miners (ARCA:GDXJ)) peaked in early December 2010 (not shown in the chart) and are currently down as much as 88% using intraday peaks and troughs
Chart Of The Day: Performance of PMs and miners during the bear market
Source: Short Side of Long