As I write, US Dollar Gold is trading at USD1516/oz while AUD Gold has also shot up to A$2240/oz.
Gold ETF (ticker GOLD) is up 2.6% while gold stocks seemingly and strangely more muted - NST was trading as high as A$14 when AUD Gold was far lower than where it is now.
It is one thing guessing the direction of an asset class, it altogether a different thing second guessing how an individual stock should trade, you would expect some closer correlation but it does not always happen. So much for market efficiency.
