"let's see how ABU is rated today as the POG took a nice dive overnite !"
Reiner,
Gold took a dive, but I doubt the market was all that surprised.
The gold stocks never really responded when gold broke above short term resistance around 1735 to close at 1750.
The day before the POG jumped, our gold sector (XGD) was at 5458, and it jumped to only 5521 (up just 1.1%).
By yesterdays close it was back down to 5423 i.e. below where it was before gold jumped from 1735 to 1750.
Not only did the market not price in the rise in POG by yesterdays close, but it was already factoring in a lower price than what it was before the price broke higher a few days ago.
Almost as if to prove this point, the gold price took a dive last night bringing the HUI down early, but by the close, the HUI finished up 0.85% even outperforming the US broad market (S&P 500) up 0.79%.
That has brought the HUI back up to just above where it was the day the gold price closed at 1750!
The market often seems to know ahead of time which way the POG is going (tell me there is no manipulation) and last night’s close on the HUI is telling us the POG is going to turn higher again today or tonight.
I expect our gold stocks in general might open lower and close near their highs, i.e. do similar to the HUI last night.
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- great link reiner and comments always chuk...
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Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $7.937M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
12 | 10075450 | 0.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.3¢ | 48754829 | 38 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
12 | 10075450 | 0.002 |
57 | 224871311 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.003 | 48731329 | 37 |
0.004 | 1930000 | 4 |
0.005 | 2269053 | 4 |
0.006 | 50000 | 1 |
0.007 | 1900000 | 1 |
Last trade - 16.21pm 15/07/2025 (20 minute delay) ? |
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