Gold&Silver Index Shows Short-term Relative Strength

The PHLX Gold & Silver Index ($XAU) is actually showing some strength with a small gain over the last six days. Perhaps this is because most other industry group indices are down and XAU is a contrarian play. The PerfChart below shows John Murphy's eight industry groups since 9-Dec. The Drug Index ($DRG) and Biotech ($BTK) are leading the way down with the biggest declines.

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Click this image for a live chart

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