Chart, page-694

GDXJ is an open ended ETF which means they are dependent on investment flows.
For instance if they receive an inflow of $100 million they are obliged to instruct their trading desk to buy up all the 100 stocks in their index as per weighting including $340,000 worth KCN.
Conversely with ouflows.
The other OZ golds EVN, PRU, GOR etc in the index are up 32 -35% too in the past month.
The catalyst for the rise was the WGC announcement that a mystery central bank had purchased 400 tons of gold in the past 9 months.
As the usual suspects China and Russia are preoccupied (Covid & Ukraine), suspicion fell on Saudi Arabia.
This is significant for two reasons:
1. It would indicate a shift from the dollar to gold by the originator of the petrodollar.
2. SA is raking it in and Saudi Aramco's profits alone could buy up the entire annual global gold production.