Mining funds plummeted
The US consumer sentiment was a little better at 98.5. Precious metals have been falling, as you can seen in the above graph, due to decreasing haven bids. The fall in gold and other three precious metals also led to falls in mining funds such as the Sprott Gold Miners ETF (SGDM) and the iShares MSCI Global Gold Miners (RING). They fell 0.71% and 0.47%, respectively, on a five-day trailing basis.
The fall in precious metals extended to some of the top mining shares, including Agnico-Eagle Mines (AEM), Primero Mining (PPP), Randgold Resources (GOLD), and Franco-Nevada (FNV). These four miners have seen five-day trailing losses of 0.68%, 0.88%, 1.6%, and 1.9%, respectively, as of January 26, 2017.
Gold fell 0.40% and closed at $1,183.90 per ounce after touching a low of $1,180.70. Silver, platinum, and palladium also fell.