Gold reacted badly to the Federal Reserve announcement yesterday, although there was nothing unexpected.
And worse today.
Spot gold has dropped below 1200 this morning. And the HUI:GLD ratio reveals that the precious metal stocks have done worse than the metal.
http://stockcharts.com/h-sc/ui?s=$HUI:GLD&p=D&yr=0&mn=4&dy=0&id=p24903662436&cmd=print
Down to $1168. Do not buy AUY.