I think it's because the market is getting flashbacks of 2013 gold bear market and pricing gold stocks accordingly. disappointing thing is GDX never recovered hitting 60% of all time peak.
it's a bit unfair on GOR, long term gold will recover but short term, sentiment is very negative and based on some really rosy assumptions.
what's different this time is when gold hit peak in 2011 and started its long March to 2013, the Dow also bottomed at 13 PE. People are nervous about gold already yet Dow has hit 30 PE. DOW 20k to DOW 30k has been pure speculative mania as rather than based on earnings so this time as PE also went from 20 to 30 so I don't think gold will play out like it did from 2011-2013.
Downtrend may have completed, page-27
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Last
$1.95 |
Change
0.050(2.64%) |
Mkt cap ! $2.108B | |||
| Open | High | Low | Value | Volume |
| $1.93 | $1.97 | $1.93 | $10.58M | 5.436M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 6702 | $1.94 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.95 | 14326 | 3 |
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| GOR (ASX) Chart |