Fundamentals of gold are solid. Fundamentally speaking I'm a bull.
As a trader im a bear.
At the end of the day u gotta follow the $
When gold goes down 5%, gold stocks fall 20%..but when gold goes back up that exact 5%, gold stocks only go back up 10% - thats a sign of weakness.
The past 2 days POG has been going up in all currencies. But gold mining stocks were flat or down. Thats a sign of weakness.
When the fundamentals are strong but global investors dump at every weakness and dump into every strength..how bullish can u be?
I'm still long and strong as I'm a longer term thinking investor not a day or a short term trader.
But at the very least you'd expect if things go against u: you lose, but if things go for you: you win. Not if things go for or against you: you lose - which has been my experience holding gold stocks the past few months. Look at RMS as an example.
