Interesting article i came across as i was doing a bit of research
Full article here:
https://www.schroders.com/en-us/us/individual/insights/what-could-a-us-recession-mean-for-gold-and-gold-equities/Also has a table that shows returns of gold and gold equities over the last seven US recessions going back to 1973.
Further down the page they explain why there were poor returns in 1981 and 1990
I do agree though that if the market is totally spooked / in panic mode, usually people want out and at whatever cost (hence why all equities can get sold down including gold equities) - what comes to mind is for example the GFC. But personally i dont think were at that stage of panic (i was expecting gold stocks to be up today - so who knows?). It seems the markets are just extremely volatile / spooked, and there are probably some rotations happening / de-risking etc
NYSE: NEM touched on a new 52w high last night, with the ASX variant ASX:NEM also making a new 52w high today.
What's strange is that other gold stocks in the US closed red though - it seems NEM is the only one that tracks the gold price and moves with it accordingly
All gold stocks i watch were red today on the ASX (and also last night in the US), other than NEM
(20min delay)