Gold stock sentiment indicator.
A$POG is back in record territory, along with US$POG.I wonder if it will be mentioned by MSM.
AUD/USD pair is working in miners favour ATM.
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It is interesting how much doom and gloom I am reading about expectations of impending crashes in PM’s, gold stocks and the markets as a whole.
Yet I still consider miners (and juniors) to be seriously undervalued compared to most other stocks.
Pretty hard to find a gold miner underperforming, at least in cash generation.
The HUI and other indicators have been trading relatively flat for more than a week.
I anticipate a turn around on the Aussie market before overseas but $2,000 spot may be required to really attract attention.
I get the feeling there is an expectation this will not be happening soon though I am more optimistic.
.Many would have noticed a slight improvement in their gold portfolio yesterday.
This is reflected in a decent recovery in short term indicators which have risen 20-25%.
Not reflected in the sentiment indicator which is bang on 50% ATM.
A reversal should be led by a recovery in producers.
These are fascinating sell-offs in gold stocks while POG consolidated.
A turn-around is likely very soon unless there are significant disruptions in the bourse.
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Here is the indicator.
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