Gold Stocks (ABX) (GG) (NEM) (GDX) Take Hit

Shares of gold miners and gold ETFs took a hit on Tuesday, as apparently speculators fled the yellow metal, not understanding the conditions which are set up for a big gold price push upward, which will benefit major gold miners like Barrick Gold (NYSE:ABX), Goldcorp (NYSE:GG), Newmont Mining (NYSE:NEM), and ETFs like Market Vectors Gold Miners ETF (NYSEArca:GDX).

Silver companies like popular Silver Wheaton (NYSE:SLW) were also pushed down on for similar reasons.

That's good overall, as it takes the players out of the gold market and leaves the long-term investors as shareholders.

Of course as soon as gold prices push up again they'll all trample back in, but it'll cost them more for the right to play when they do.

Silver Wheaton closed Tuesday at $39.64, falling $2.05, or 4.92 percent. Newmont held up better than its peers, closing at $52.10, down $0.23, or 0.44 percent. Goldcorp closed at $46.52, losing $1.15, or 2.40 percent. Barrick Gold ended the session at $49.23, dropping $1.77, or 3.47 percent. Market Vectors Gold Miners ETF closed at $56.48, falling $1.33, or 2.30 percent.