You missed the point again. Are you listening?
The gold market is cyclical and moves in trends.The gold trend is changing. Check the US Gold price, which most of the world considers. (ie in US dollars)
The gold has only just broken through a 3 year high high after essentially going sideways for the past 3 years. (although some might say a cup and saucer shape over the past 10years with a spike breakout - some might say a manipulation by the big end of town)
The key point.
The Fundies have been underweight gold in their portfolios. Less than 0.5% is what I've read, when the Median over time has been 2%. (and as high as 6%)
There has been discussion, that they will be waiting until the prices breakout above (Approximately!) 2000-2070 before they'll bother considering gold.
If they revert to the mean (ie 2% of their portfolios) thats an increase of 4 times their current holdings,,, thats a lot of buying.. You would think that might also place some pricing pressure on gold.
Most folks understand the theory of FOMO.. Fear of missing out.. So if there's a few seeing that price breakthrough we might see further price action also as a result of FOMO. It will bring renewed interest.
As you can see Gold can move fast or slow,, who knows how it will move this time.
Getting back to query re ERM and it's apparent non correlation to the price of Gold.
The whole gold explorer company market has been down.... unloved. unwashed, excommunicated, on the nose etc etc
As can be seen by the Explorer chart.
I don't know how much simpler I can explain it.. I must have mentioned it at least half a dozen times , yet you ignore it. Normal mining, Tech, the big seven, trendy lithium, uranium, rare earths etc have been frothing (and now coming off the boil)
So I post for about the 6th time the following as you must have missed it.
It just so happens that ERM has suffered along with the general Gold Ex market sentiment as a result.
I believe that's changing... I don't know how quickly that's going to happen. No one does, (apart perhaps from a few US bankers that seem to mess with the paper price of precious metals in general. )
I can't make it simpler than that, and your questions don't consider my previous answers. So again,, no further point..
Old saying about horses and water..
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Mkt cap ! $23.42M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 50000 | 4.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.2¢ | 25000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 50000 | 0.044 |
1 | 17441 | 0.043 |
1 | 210000 | 0.041 |
3 | 132621 | 0.040 |
3 | 156445 | 0.039 |
Price($) | Vol. | No. |
---|---|---|
0.042 | 25000 | 1 |
0.044 | 22200 | 1 |
0.045 | 29850 | 1 |
0.046 | 35000 | 1 |
0.047 | 40000 | 1 |
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