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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$1.45 |
Change
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Mkt cap ! $1.855B | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| 40 | 74058 | $1.44 |
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| Price($) | Vol. | No. |
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| $1.45 | 71700 | 53 |
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