Yes it happened for NCM and NST too, both were around 3% up early in the day then finished about 2% and 1% down respectively. Seemed like a manipulation of the gold market by the big boys today. Nothing to do with fundamentals since the gold price actually rose overnight and quarterlies are very good at these higher gold prices during the quarter and companies sorting out their operational issues of the previous quarter. I suspect short term profit taking or they expect bad numbers in the USA in the next few days. I expect the same but I think the gold price will eventually defy the rising interest rate trend of getting driven lower as rates rise. At some point when the economy gets too bad this correlation with higher interest rates will end and the gold price will be rising regardless. There are just too many other factors coming together for the correlation to continue. Geopolitical issues, BRICS attacks on the USD ramping up, plus most other investments becoming untenable for the public due to the credit crunch. It won’t be long before crypto gets its final nail in the coffin, we are already seeing the elite start to put these systems in place to discourage it.
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