Truly amazing how the gold stocks can't moveTypical seasonality.
Gold is up $ 8.80 USD but gold stocks are down or flat. This has been going on the past 5-6 weeks now. Already was visible even in September after the last "peak" that came in early September when gold was around $ 1350.
Now gold is back to $ 1287 with many midtier shares having been down 30 % or more.
This will be a great buying opportunity on MANY midtiers that have been crushed past couple of months...imagine they don't for some reason pull the trigger on a rate hike. Gold should go into 2018 in rally mode + tax loss selling will be done.
We are trading over $ 70 higher YoY for Nov 17th. Yet shares are down across the board...except KL of course, Franco Nevada, etc. I really think a nice rally is setting up.
JIN