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Rleonars

3,162 Posts.

618

28/09/21

13:05

Post #: 56403219
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Originally posted by slange: ↑

Yeah it could be a combination of reasons, none of them fundamental.
Gold has been constantly attacked recently so confidence in higher prices is just not there.
Fraudster proxies will no doubt be playing their part in shorting gold ETF's and gold shares to scare them out of their positions.
We are in a capitulation phase brought on by the above criminals which is essentially a "get me out of here" type of action as they look to cover and get long while the little fellas freak out and sell.
Its also time related in that time has to run its course. Once times up a reversal takes place and that is usually when techs become extreme which is what we are beginning to see in certain gold stocks.
The thing is though, these jerks will have to cover and then the sparks will fly.
We are pretty close by the look of it.

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Oil is a large expense for miners. Seems to be some
correlation. Almost doubled since January 2021.

Besides the games Instos play (remember the GDX rebalance debacle before Rona).

If their aim is to utterly destroy any confidence in Aussie gold mining industry, they’re close to achieving that.

My super is down about 30% this year.
5 Upvote

0 Great analysis

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