a fairer comparison is against the XGD, but still it has...

a fairer comparison is against the XGD, but still it has diverged to the downside for the past year.
the XGD has lagged gold also, in part because of asset class rotaion.. the US tech sector and the AUDUSD have both been negative for us.


AUD has been in a downtrend for 13 years.. current rseistance is about 69c... there is a strong correlation between the currency pair and the XGD to AUDgold ratio which is also near historic lows



Miner to gold ratio on bottom.. like the currency it hasnt broken out yet despite the XGD having broken out.. it will be a big wave 3 if the ratio and currency break in our favour



there is an attempt at putting an EW count on the XGD.. now in wave 3 of an impulse (since 2022)



XGD (in blue) versus BCN
we started lagging teh XGD from April 2023
in April 2024 the XGD broke its downtrend multi year consolidation, BCN failed to join the party

what excuses can be made?.. can someone show a chart of aussie junior gold miners versus XGD? .. possibly we might find something there.
not really sure if there are any other factors extrernal to the company that can be blamed if it cant be found in that comparison