All SPR stated is reserve is due this quarter - we get a better idea in the “ imminent” updated MRE announcement.
Something significant has happened to the very recent performance of GDXJ and GDX in the last 2 weeks. The GDXJ has risen by 13.5% since 2 July (today up about 3%) while POG has only increased by 3.6% ie GDXJ has increased almost 4 times the increase in POG.
I have been expecting the gold shares to significantly outperform the POG from this quarter as profits are announced by stocks but it’s happened a lot earlier than expected in the quarter. To end of June this year despite the increase in POG GDX and GDXJ have not outperformed POG despite the fact that their profits have probably increased roughly 3 times the POG change.
A bull market in gold stocks may have just started.
We may also see a bigger move in POG from here in the second half of 2024 especially when US cuts interest rates.
SPR Price at posting:
98.0¢ Sentiment: Hold Disclosure: Held
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