Hey Veritas4
The reason why sp of gold miners is falling even when PoG goes up is because majority of investors don't see the bull movement in Au as being sustainable. It is a non-confirmation signal. Until Au makes a higher high (ie greater than $1703 spot) majority of investors see gold heading down or moving sideways. Hence gold miners sp falls although PoG goes up on daily movements.
I hope that I'm wrong. I've been significantly invested in Aussie gold miners since early January and with the coming corona virus induced recession, the $A will drop further but PoG in $A will increase. Our miners will provide a safety hedge.
Price action, page-724
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