Meanwhile the price Jekyll and Hyde of ASX gold producers not even getting a mention...it's outside the media's brief.
Gold up Friday night in the USA - Smackdown Monday in Oz with most producers taking a 6-8% hit on average. Speeding ticket anyone.....!
Gold down on Monday in the US so gold stocks here have a Tuesday rally.... of course...
Gold level in US Tuesday night ( and up $40 Aud) so Oz gold producers getting a whacking from Foghorn Leghorn again ...
Gone are the days when a 1% increase on paper gold would see producers rally say 3% - and the same on the flipside.
Any idea ( rightly or wrongly) that some producers were a good inflation hedge along with physical is being turned on its head. Don't get me wrong there's been solid gains in producers this last 18 months way better than the market in general.
So I hold physical as well as producers to smooth the ride - if that's what you want in your portfolio.
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