I think the Ukraine drones bombing of Russian bombers was the root cause for the price rise in gold and gold miners. -Ukraine bombed Russian bombers on 1st June (Sunday) -Australian markt didn't react on 2nd June (Monday) i.e. probably investors were getting tired of what went on in Ukraine and Russia. -However US market reacted on 2nd June (overnight for Aussie) -Aussie market reacted subsequently on 3rd June (Tuesday).
Russia hadn't reacted or retaliated and therefore the event-driven price rise naturally subsides.
We can expect Russia to retaliates in the coming days and therefore another surge is likely. Question is will the price rise stick this time?
GLTA.
GMD Price at posting:
$4.49 Sentiment: Buy Disclosure: Held
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