I've been saying for a week...barring an enormous single-day move in gold...gold pricing is not enough to offset the negative sentiment of the miners as companies (i.e.- companies are effected by this sell-off).
GDX is working on period 12 on the 4 hour chart since it last touched the EMA 8...meaning, it's due for at least a bounce up to that soon (may not be today). Currently, EMA 8 on 4 hour is at 21.78.
Not unreal CME Gold Trading Biggest Manipulation Scam there is. Big Banks have always pushed price to their advantage and just pay millions or billions in fines while SEC looks the other way. The fines they pay are about 10% of their total profits. Greed rules at the top and nobody stopping it.