Very tough session for gold stocks today as XGD fell 5% ....

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1ronnie

20,705 Posts.

1963

14/10/19

16:35

Post #: 40874282

Very tough session for gold stocks today as XGD fell 5% . Goldwatch stocks (ex specs) did a little better down 3.9% and Goldwatch (incl specs) down 3.1% helped by SVY's rise after coming out of trading halt.

The market over-capitulated on established gold producers eclipsing the decline in gold price. I guess the market is concerned that with prospect of trade war resolving , there would be a waning demand for gold stocks. This of course could all change as we navigate challenges in the days and weeks ahead. This shortermism in trading behaviour was also last seen when NST shot to $14 when gold was at AUD2050/oz (now at AUD2,190/oz) - at that time you could say the gold stock price possibly jumped ahead (in hindsight) that was more than justified by the rise in gold price- this time you could say it has overstepped to the downside beyond the drop in the gold price (last Friday was AUD$2207/oz so the drop has been only 0.77% yet we saw NST and SAR dropping by 5% and 8% today).

Column 1 Column 2 Column 3 Column 4 Column 5

0 GOLD WATCH 13/9/19 14/10/19 CLOSE %Chg

1 GOLD USD/OZ    1,496 1,487 -0.6%

2 GOLD AUD/OZ    2,178 2,190 0.6%

3 1 GOLD [BETASHARES ETF]   $ 205.04   $    206.08 0.5%

4 2 NORTHERN STAR (NST) [XGD]   $    10.23   $ 11.26 10.1%

5 3 EVOLUTION MINING (EVN) [XGD]   $ 4.54   $    4.42 -2.6%

6 4 SARACEN (SAR) [XGD]   $ 3.28   $    3.41 4.0%

7 5 GDX (VAN EYK GOLD ETF)   $    39.67   $ 39.87 0.5%

8 6 CHALICE GOLD MINE (CHN)   $ 0.19   $ 0.185 0.0%

9 7 BLACK CAT SYNDICATE (BC8)   $ 0.47   $ 0.430 -8.5%

10 8 CATALYST METALS (CYL)   $ 2.32   $    2.50 7.8%

11 9 WESTGOLD RESOURCES (WGX) [XGD]   $ 2.51   $    2.16 -13.9%

12 10 KIRKLAND LAKE GOLD (KLA)   $    67.21   $ 66.00 -1.8%

13 11 ALKANE RESOURCES (ALK) [XGD]   $    0.780   $ 0.765 -1.9%

14 12 BELLEVUE GOLD (BGL)   $    0.625   $ 0.555 -11.2%

15 13 ALACER GOLD (AQG) [XGD]   $    6.550   $ 6.090 -7.0%

16 COMPOSITE RETURNS excl SPECS TO DATE -1.86%

17 1 ORA GOLD (OAU)   $    0.016   $ 0.023 43.8%

18 2 METEORIC RESOURCES (MEI)   $    0.070   $ 0.058 -17.1%

19 3 SPECTRUM METAL (SPX) [closed]   $    0.086   $ 0.079 -8.1%

20 4 ROX RESOURCES (RXL)   $    0.027   $ 0.026 -3.7%

21 5 STAVELY MINERALS (SVY)   $    1.290   $ 1.320 2.3%

22 COMPOSITE RETURNS TO DATE -1.27%

23 13/9/19 14/10/19 CLOSE %Chg

24 ASX200 (XJO)    6,669 6,643 -0.40%

25 ASX ALL ORDS GOLD (XGD)    7,224 7,190 -0.47%

	Column 1	Column 2	Column 3	Column 4	Column 5
0		GOLD WATCH	13/9/19	14/10/19 CLOSE	%Chg
1		GOLD USD/OZ	1,496	1,487	-0.6%
2		GOLD AUD/OZ	2,178	2,190	0.6%
3	1	GOLD [BETASHARES ETF]	$ 205.04	$ 206.08	0.5%
4	2	NORTHERN STAR (NST) [XGD]	$ 10.23	$ 11.26	10.1%
5	3	EVOLUTION MINING (EVN) [XGD]	$ 4.54	$ 4.42	-2.6%
6	4	SARACEN (SAR) [XGD]	$ 3.28	$ 3.41	4.0%
7	5	GDX (VAN EYK GOLD ETF)	$ 39.67	$ 39.87	0.5%
8	6	CHALICE GOLD MINE (CHN)	$ 0.19	$ 0.185	0.0%
9	7	BLACK CAT SYNDICATE (BC8)	$ 0.47	$ 0.430	-8.5%
10	8	CATALYST METALS (CYL)	$ 2.32	$ 2.50	7.8%
11	9	WESTGOLD RESOURCES (WGX) [XGD]	$ 2.51	$ 2.16	-13.9%
12	10	KIRKLAND LAKE GOLD (KLA)	$ 67.21	$ 66.00	-1.8%
13	11	ALKANE RESOURCES (ALK) [XGD]	$ 0.780	$ 0.765	-1.9%
14	12	BELLEVUE GOLD (BGL)	$ 0.625	$ 0.555	-11.2%
15	13	ALACER GOLD (AQG) [XGD]	$ 6.550	$ 6.090	-7.0%
16		COMPOSITE RETURNS excl SPECS TO DATE			-1.86%
17	1	ORA GOLD (OAU)	$ 0.016	$ 0.023	43.8%
18	2	METEORIC RESOURCES (MEI)	$ 0.070	$ 0.058	-17.1%
19	3	SPECTRUM METAL (SPX) [closed]	$ 0.086	$ 0.079	-8.1%
20	4	ROX RESOURCES (RXL)	$ 0.027	$ 0.026	-3.7%
21	5	STAVELY MINERALS (SVY)	$ 1.290	$ 1.320	2.3%
22		COMPOSITE RETURNS TO DATE			-1.27%
23			13/9/19	14/10/19 CLOSE	%Chg
24		ASX200 (XJO)	6,669	6,643	-0.40%
25		ASX ALL ORDS GOLD (XGD)	7,224	7,190	-0.47%