gold, page-84027

Gold stock sentiment indicator.
Yesterday I was waiting for a financial commentator to mention the 2% rise in POG on Friday night.
Did not happen until I saw Alan Kohler on the evening news.
Another observation - my portfolio sometimes looks pretty average until the after market auction.
Got to thinking about how our gold sector works so did a little research. Took all of 5 minutes.
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I looked at data from the 16/3/20 to 14/8/20 for US$POG and A$POG.
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During this period there were 106 trading days on the Australian market.
Gold closed up on 45 days and down on 61 days.
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There were 110 trading days on the US market.
Gold closed up on 68 days and down on 42 days.
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This is an astounding discrepancy. Nothing to see here.
The US has the time zone advantage of trading at the end of the daily cycle while our market is open at the very beginning.
In May I adopted the strategy of buying gold stocks in the last hour of trade and selling after the first hour. News release dependent.
Now I know why.
Good thing we operate in a free market environment where big overnight price moves are not reported, prices are in a foreign currency and data is freely available.
As the worlds largest free market supplier of gold, we are price takers, not price makers.
Still not a lot of stock on bullion supplier shelves.
Information is out there. Use it to your advantage.
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It appears the PM sector is holding its' breath, possibly waiting on the S&P 500 taking out a new high.
Be prepared as gold could be sold off if markets really break out.
Not a lot of direction for the PM sector.
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Producers lead the way as far as sentiment goes.
Still more to come and nothing appears particularly over-bought.
There is a relative sense of normal behaviour in the way stocks are trading.
I expect juniors to really catch a bid as the indicator moves into the 60's.
A surprising amount of pessimism in commentator views. Might be a bit gun-shy after the last correction.
This is good because once the cheer squads raise their voices, it is probably time to take profits.
Leading indicators are nicely elevated but not extremely so.
The sentiment indicator has popped higher.
Here it is.
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