this sell off is capitulation! i believe that even the POG falls through 1300$ we will sell the correlation SLR/XAU breaking. i.e SLR may fall a bit more (perhaps another 10%) but that's it.. look at the NAV. we are already trading below the enterprise value as of last quarter.
we are close to bottom IMHO
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gold in freefall.. how low slr monday?, page-62
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