It seems all major gold indexes in US and Canada are down (at time of writing...12:57 am AEST)...same as last night (Tues.), despite US equities tumbling massively last night, gold indexes fell the most. I mentioned this 3 times last night, no one commented. Not a soul. I think I am in the wrong place.
Classic case of confirmation bias.
That is the reality for whatever the reason. Here are the five major US anbullionvaultd Canadian gold indexes and ETF's etc. Again, far, far worse than
any major US index (second image). 3 times worse.
And again, no-one will comment...it's not what gold longs (including me) want to hear, but it's the reality.
Hey
@wombat53 we are definitely listening. Well at least I am. My anecdotal experience just based on the few Aussie gold stocks I hold is that the situation is much the Same here. POG went up last Friday but not all stocks rerated
So either;
1 the market doesn't believe the gold price increase is sustainable
2. The market does not think the few percent increase in POG is significant enough to rerate these stocks
3. We are ahead of the market - others are more worried about their bank stocks or other blue chips and Haven't sorted out what we know ( or what we think we know )
4. We are in the middle of a fundamental market shift and weird stuff is going to happen
5. The market is waiting for confirmation of the move before investing (probably wise)
Or maybe a combination of all these?