Wanna know the reason why gold stocks are going downhill? It's the weather, stupid!

Yup .... better believe what our lords and masters at the Manipulation Tower, otherwise known as the Stock Market and their minions the talking heads on TV and MSM are telling us.  

Tyler Durden writing at ZeroHedge:
Here Is What The Slide In Gold Is Being Blamed On (Hint: Weather)
When the US economy underperforms expectations, the weather is blamed; and now, on the heels of Japan's pre-emptive blaming of weather for crushed consumer spending patterns; The FT proclaims that El Nino is responsible for the weakness in gold (as monsoon season will reduce physical demand from India)... welcome to mainstream media meteoronomics 101. What is odd about this reasoning is that we are actually more prone to a La Nina than an El Nino pattern this year based on the Southern Oscillator Index.

Gold down due to El Nino - Via The FT,
Concerns about the effect of El Niño, which have hit commodities markets since the start of the year, is spreading to gold, as some analysts point to the weather phenomenon’s potential impact on India’s monsoon season.

he lack of physical buying by Indian consumers, normally active purchasers of the yellow metal, has been one of the bearish factors for the gold market this year. The precious metal was down 3 per cent on the week at $1,253.90 a troy ounce, and Edel Tully, precious metals strategist at UBS in London, said India was likely to be on the radar in June as the monsoon season started........