This is really all the charting you need to see to explain the latest SP moves.
XAUUSD overlaid on the daily chart (Green line). Gold is at an inflection point. Seasonality hasnt really entered yet, usually now with wedding season gold should be on the rise. With the prospect of a trade deal being done the USD is stronger and it has removed the inclination to hedge.
So not a lot of retail buying and the removed trade threat means no upward pressure for gold. I expect it to come still but if it breaks the 1440-1460 level, WGX will feel a lot of pain. Even without it the stock will likely slide a little in the near future.
I'm in drawdown but i believe the outlook of this company is solid so i'm holding. My technical exit was a break down of 2 dollars so i should be out but i'm prepared to hold a while longer and buy another position if it turn and average down.
DYOR
WGX Price at posting:
$1.98 Sentiment: None Disclosure: Held
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