why are gold-hedgers 'winning'?

Last Paragraph or so of a a much longer article see:
http://www.safehaven.com/article-4354.htm
by Alex Wallenwein..which is excellent b/ground reading for anyone interested in the topic..and suggests 'motive'
and other aspects of the workings of the market place
All HC'ers holding Au equities will feel an auric glow as we begin The Year of The Dog [Chinese Zodiac]:
to wit:
People born in the Year of the Dog possess the best traits of human nature. They have a deep sense of loyalty, are honest, and inspire other people¡¦s confidence because they know how to keep secrets. But Dog People are somewhat selfish, terribly stubborn, and eccentric. They care little for wealth, yet somehow always seem to have money. They can be cold emotionally and sometimes distant at parties. They can find fault with many things and are noted for their sharp tongues. Dog people make good leaders. They are compatible with those born in the Years of the Horse, Tiger, and Rabbit.
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If the HUI's breakout is sustained, what's coming after that?

Barring any manipulatory ambitions which certain quarters might entertain, this breakout could quite possibly be the precursor of a humongous gold stock run. This run, if it is indeed coming, could conceivably become the mania that puts all other past manias to shame - the "mother of all manias," to say it with Saddam Hussein. (And, needless to say, when that happens, it won't matter one bit why the XAU broke out before the HUI. You'll be too busy watching your holdings grow - on paper - to worry about such arcane issues)

How soon could this happen?

Could be very soon. US stock investors are currently spooked by the newly inverted yield curve - despite constant haranguing by the media that this does "not necessarily" mean a recession is coming.

The dollar, already wobbling away from its recent uptrend, has maybe two more rate hikes left - on the outside. Given the fact that it's already flat to sinking while the Fed is still hiking, it could go - well - anywhere ...

... except up, that is.

Home prices? Yep. The money could surely go there as long rates have broken down recently - but even that won't last. That story is already old, and fears of an impending collapse have been stoked aplenty by the mainstream and the alternative press alike. How about bonds. Can they go higher? Yes, a little higher - but not much.

Could be soon - but nobody really knows when. Please keep that in mind.