POG is up today, while mining stocks are off. When fear pervades Wall Street, most all stocks take a hit, as we are seeing at the moment. This explains why gold mining stocks can be down with everything else, and gold itself can be up in a contiuing trend in that direction.

Eventually, however, the fundamentals supporting metals prices have to support mining stocks, as well.

...two basic reasons for this. 1) Gold, especially, is the "safe haven" when everything else looks to be falling apart, and 2) a lot of the big time money managers begin to look to recovery on the others side of a correction, which usually means they go to producers of hard assets, like miners.

As I said the other day, I think the tide has turned in favor of miners, which is not to say that explorers and/or junior producers will benefit in the short run. That remains to be seen.

...for what it's worth