Futures vs Miners

Gold futures hit a new record high of $2078 on March 8. Since then it has fallen to $1923, a decline of $155.

Nemont, GDX, and Barrick all shrugged off the pullback in gold.  

Newmont (NEM) hit a new record high on Friday of $82.78, up 4.19%. And that is on a day in which the price of gold decline over $30. 

GDX rallied 2.97%, and Barrick rallied 1.67% on Friday, also shrugging off a $30 decline in the price of gold.

Strong Bull Markets 

These actions are typical of strong bull markets. 

The miners aren't concerned about consolidation in the price of gold or Fed tightening. And neither am I. 

For discussion of Fed tightening and yield curve flattening please see Breathtaking Yield Curve Spread Collapse Including 2-10 and 3-30 Inversions