Are you referring to gold producers or gold explorers? I haven't examined this in detail , but assuming the SP of the producers as well as the explorers has not risen in line with the rise in the US POG, may I offer the following suggestions:
(a) The market is waiting to judge if the rise in US POG is sustainable; and
(b) The end of FY tax selling (although some people believe this has already occurred).
(c) The Aussie POG has remained relatively static over the last month.
