Real yields and interest rates are near perfectly negatively correlated to Gold, Silver, and the miners. Therefore, the prices for Treasury Inflation Protected Securities (TIPS), which are the inverse of real rates, are near perfectly correlated to precious metals and miners: TIPS fall, Gold falls, and vice versa. TIPS had been falling in corrective fashion lately but are also undergoing a short-term rebound, just as in Gold, etc.
Comment
⋅
~125.30 is critical support. 127 is key resistance. Whichever of these levels breaks first will have repercussions for the metals and miners.