Rabbitoh
The whole thing has me puzzled. A lot of posters trying to rationalise it as the strong aussie dollar offsetting the increasing USD POG, but in reality, the US gold stocks are also falling.
I knew we were going to have a bad today because I saw what Barrick, Newmont, Goldcorp and Kinross did overnight- either fell or went up marginally.
My own view is that Gold is a sentiment play for most. Whilst we gold bugs take a fundemantalist approach to investing in gold stocks, most are traders looking for a momentum play. As soon as they think the stock market, or resources sector is a bit shakey, they bail.
If this is true, then now is a great buying opportunity for us fundamentalists. Just need to be patient.
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