Post by
galnakon on Mar 08, 2024 2:33pm
Miners are so weak
Higher and highers highs for gold give lower and lower highs for all miners. Many days like today are seeing a rise of gold price but miners still are in the red. Miners are barely outperforming gold when up and clearly have a huge leverage on the downside. The sector is so hated and I have no idea what could attract investors back.
Gold is at all time high and miners are priced as if gold was at 1400. On the next retracement, surely miners will hit new lows. Rince and repeat. One step up, two steps down.