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$1,391.7 gold futures

Producers lead the gold price.Many were struggling to take out...

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Pointyfigures

1,639 Posts.

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19/06/21

02:35

Post #: 53937744
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Originally posted by albatrosss: ↑

My explanation is that what we saw was a real muted response from the gold stocks over the last few weeks as gold pushed thru $1900. There must have been many that knew the knockdown was coming.
To be honest , its as if goldies were positioning themselves to the lower prices before the correction came.
So once $125 was knocked off the gold price.
Stocks were already at the level to correlate to that gold price.

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Producers lead the gold price.
Many were struggling to take out resistance but now, with a reversal, will have momentum to take out this resistance.
Same for the XGD which had become bogged down.
8 Upvote

0 Great analysis

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