Gold Miners Hit a New Relative Low

From the Desk of Ian Culley @IanCulley

First, gold failed to hold its breakout to new all-time highs.

Then, the silver-to-gold ratio undercut a critical shelf of former lows.

Now, the Gold Miners ETF $GDX is printing a new all-time low versus the broader market!

Is there any sane reason to bet on the miners right now?

Let’s take a look…