you need to look at AUD gold price if you are correlating gold price with gold stocks- not USD gold price
The AUD gold price bottomed a year ago and hasnt c ome close to retracing - and its the AUD gold price that sets asx gold stock earnings
Reality is though that USD gold sets the psychological barometer for the broader herd regarding gold stocks
- so its not until USD gold price makes big moves up that mainstream money comes back to gold stocks
good opportunity here for the patient.
and getting v close to another 50/200 MACD breakout on USD gold - if tonights US job data is weak we could well see USD gold go on a bit of a flyer
