I think he is wrong on this. Gold stocks sure did not move with the broad market this week.
Let me say though that although I think gold stocks are going lower, the upside potential is hugely greater than the 5-10% additional downside I see.
“The things that will destroy us are: politics without principle; pleasure without conscience; wealth without work; knowledge without character; business without morality; science without humanity; and worship without sacrifice.” Mahatma Gandhi