This is the case I suspect because Banks / Funds never sleep.
The Asia Offices of the banks / funds know in advance where the POG is heading in the US later in the evening, and for that matter GDX/GDXJ, which invests (heavily) a number of Aussie goldies.
”A rising tide floats all boats” comes to mind, so often numerous goldies not in the GDX/GDXJ get pulled up (and subsequently down) due to this, despite fundamentals.
On top of that, the Comex & Futures pricing of gold is heavily manipulated (banks have been fined many times for this google it).
Without understanding the complexities of the gold / gold mining space, individual investors misunderstand the daily fluctuations.
Will the SP go sub $1 again?, page-46
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Last
$1.23 |
Change
0.058(4.89%) |
Mkt cap ! $1.580B | |||
| Open | High | Low | Value | Volume |
| $1.23 | $1.24 | $1.22 | $2.657M | 2.165M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 36 | 90675 | $1.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.24 | 159117 | 28 |
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| Last trade - 10.59am 13/09/2024 (20 minute delay) ? |
| BGL (ASX) Chart |