We are still finishing today's Premium Update, and among the things that we had wanted to provide were the stop-loss details for long position in gold, silver and mining stocks. However, they were just reached, so at this time we no longer suggest keeping speculative long position in gold and silver and we think that half of the long position in mining stocks should be closed.

You are probably wondering of there was some kind of black swan event (highly unlikely but with a significant impact) that caused gold to decline and it was the surprising information coming from the Fed about the possibility of ending the monetary stimulus. We doubt that this will really be the case, but it seems that this piece of information will manage to make those less convinced about the gold story to sell their holdings and this is what we're seeing right now.

You can read more about it here.