Here’s a chart from the current issue of the investment newsletter at Iacono Research. It’s been quite a ride for gold, silver, and mining stocks in recent months, their future direction now uncertain as the world waits to see what Ben Bernanke and the crew at the Federal Reserve do in ten days after the most highly anticipated Fed meeting in quite some time.

I continue to think that the junior gold miners ETF would be a nice addition to anyone’s investment portfolio and it is the star performer in the 2010 model portfolio with a gain of 39 percent, however, as should be clear in the upper right portion of the chart above, it can go down as fast as it goes up. At this point, it’s all about investors’ appetite for risk and, last week, some of that appetite disappeared, the silver price being similarly affected.

Full Disclosure: Long gold, silver, and mining stocks