Time to Revisit Some Basic Philosophy of Gold

There is no denying the persistent strength in "the color," with the miners shaking off some earnings misses today ad mostly up nicely. GFI, a laggard, is coming back here and on track to close over its 20-day moving average, despite a huge gap down. 

We are taking things one step at a time, but the action is improving noticeably in the precious metals and mining complex.

As for stocks, it was a grinding day, with bears unable to really pounce on the weak FANG, banks, and biotechs to take the market down hard.

More in my full recap for Members after the bell, and the brief one here.