Absolutely correct and the BGL sp is driven by the sentiment of...

Absolutely correct and the BGL sp is driven by the sentiment of a commodity in US$ which is being hammered only becuase of the strength of the US$.
The gold price in most other currencies have appreciated around 10% for the year!!!

so on monday after watching all this i will start to buy into BGL - however i am not rushing in to buy all at once as i think the powell interest rate increase will occur in the next meeting another 0.5% , some 5 weeks away which i think will cont to plague the stock mkts and the POG, becuase it will cause US$ strength as it has already done.

the bond mkt has already indicated a near 3% interest rate (US10yr) already - Powell intends to sap demand to get inflation under control, and sap assets prices also.

but becuase the economies are already weakened through supply issues and pandemic over last 2 yrs it wont take much to get the demand down. recession for sure which may already be happening

EVERY FED interest rate hike in the last 40yrs has never got above the previous hike - 8%, then 5% and last one 2.5% and then powell famously retreated back to low interest rates and more QE.

imagine if powell gets one or 2 more hikes in - say up to 1.8-2%, but then halts becuase the economies are cont to fall away, stock market another 30% down SP500 to 3000 maybe etc etc - job done?? - well the bond mkt will fire up - yields will go done US$ will fall heavily and US$ price of gold will rise probably at least back to that magic $2000/oz

BGL and all other goldies will be flying too - just a matter now of how low it all goes before there is a steep turn around

seat belts on investors!!!! IMHO - not investment advice - just some nostradamis like musings!!!