Comparative Analysis of Various Gold Stocks vs Gold Price, page-2

Profits in quarterly reports are based on average selling price, which is based on average Gold price over that period. 90DMA on 30th June was US$1,692, so that's the level of earnings were seeing now, minus hedging of course. If Gold can stay at anything like current levels, Q3 earnings will take another leap higher.
In the long run Gold Stocks should move 2-3x the Gold price.

USD (DXY) now in the blood bath phase of the intermediate decline, having broken below the March low.
EUR is the major reciprocal of the DXY, and they've just successfully passed their budget and COVID-19 crisis summit. This is in contrast with the FED, which is totally dovish leading into it's FOMC meeting this week. Printing money like there's no tomorrow. With all out selling of the USD, we should see some real panic next week setting it up for a low. Then I expect a 4-6 week corrective rally, meaning tough times for Gold and stocks. Longer term the USD is now entering a bear market, which is good for Gold and Stocks in general. All IMHO.