The reason Gold Juniors are performing better than Gold Majors relatively is because short term gold prices only impact gold majors and not gold juniors. But if gold continues to fall, it will come a time that gold juniors could play catch up and then gold majors stop dropping because gold may not fall much more.
Aussie gold majors are not in an enviable position at this point because gold price is weak against the USD and secondly the AUD is still wanting to strengthen , therefore AUD Gold price keeps moving lower. If Gold gets to $1680 and AUD at 80c, AUD moves to A$2100, and if Golds gets lower to $1600 and AUD at 80c, you start to see A$2000. At A$2000, the gold projects underway with juniors become less lucrative especially when discounted at a higher future rate.
