I was wrong. So I have to make a confession.
From now on I'd better start to pay very careful attention to the Australian dollar price of gold. From now on I'd better let the Australian dollar gold price determine whether or not I expect Australian gold shares to rise or fall on any given day.
Because we are in Australia from now on I had better decide that the US dollar gold price is irrelevant as is the performance of HUI gold stocks overnight.
From now on I have to understand that the Australian dollar gold price should override this.
From now on should the gold price rise sharply overnight in Australian dollars but gold equities here fall I will have to agree that it makes no sense and Australian gold shares should have risen in price, because the price of gold went up.
Now can someone please tell me why gold shares are down here today despite a $20 rise in Australian dollars.
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