AUD Gold price has reverted to its Jan 2020 levels but if you look a lot of these gold stocks, their sp remain still substantially higher than they were back then. The gold majors are closer to those levels, NST and EVN are within 7.5-10% from their Jan 20 levels , RMS is still 200% higher (SLR also doubled from where it was in Jan 20), but a lot of gold juniors are substantially higher. That is understandable because gold juniors are only impacted by a lower gold price if the price remains low going forwards while the gold producers are immediately hit. It is not a direct benchmark to use but it is a warning that prices can retrace much steeper than the fall in the price of gold and the above is one perspective.
