...this is the reason why GDX fell overnight, Barrick is a major component fell -5% possibly because its Mali issue (see previous post). Barrick is down -6% the past week.
...this is not giving confidence to gold equity holders that their stocks can seamlessly follow Gold higher. Company specific risks.
...but on the local front, EVN provided the impetus to ASX gold miners despite gold stocks down in US.
#2 global #gold producer Barrick Gold with a violent 3-day ~15% correction back to its 200-day SMA. This morning, Barrick reported light Q1 production numbers but affirmed that it is still on track to achieve its full-year 2024 guidance
