by Greg Guenthner
Daily Reckoning
The major averages just posted their first two-week losing streak since August.
But what about gold?
After a rip-roaring first half, gold is plunging as we enter the home stretch of 2016. We watched precious metals and miners vault to two-year highs just a few months ago as the Fed backed off a summer rate hike and world markets shook in fear of the Brexit vote.
Not anymore…
Gold’s trajectory has changed dramatically since late summer. While the major averages have stalled out, gold hasn’t attracted many buyers seeking a safe-haven trade. Instead, it has coughed up every ounce of its summer rally and sunk toward 4-month lows.