If it is any consolation Eld dropped the least among peersMost producers drooped from 6-10% while eld dropped 4.54% in heavy volime, this indicates intrinsic strength, I attribute that to the fact that eld will still generate profits at even a gold price of about 1000.
The sharp fall in gold price was made worse by triggering sell stops st many points. Miners drop made worse too by falling markets which generates margin calls or fear of such.
next week if gold stays about current levels we could see miners rebound if general markets rebound.
We think that gold may rebound some but will remain under the pressure before options expiry date,
many put options are in the money now and that makes for a weaker rebound till after the expiry.
I held into my shares and added some at 6.24, and 6.11, got out of all other gold and silver miners with some loss but bought back Aem and Lun and hbm lower.
Now holding these 4 stocks and all in the red. If the economy is on the mend then base metals could counter any drop in gold miners. That is my opinion, the maket has his own mind.