And a look at how precious metals have traded against the miners in the last five days shows...

...that the gold miners (GDX) have done the best, up 4% and that's a pretty decent showing all told. With it being earnings season for the major gold miners, it shows that the results have impressed the market on a global level. This is good.

Gold bullion ((GLD) proxy) and the junior miners (GDXJ) have a small win but nothing special, whilst silver bullion ((SLV) proxy) hasn't had a good week, despite the normal To Da Moon Alice rantings of its ridiculous permabull fanclub.