RE:Well there you have it....Gold goes up and down with economic sentiment and the lack thereof. Currently, the perevailing sentiment is that the pandemic is almost over, good times are just around the corner, you want to own cyclicals, industrials, commodities, airlines, hotels etc. The gamble is very much RISK ON! THE GOOD TIMES ARE ALMOST HERE!
I'm not buying into the optimism. The world is still a mess. Once inflation and interest rates come back, thanks to all of that money printing, the stock market is going to get hammered and gold will once again soar. When that will happen is anyones guess. I'm expecting a 20% market correction any day now.
You might have noticed that LUG is paying down it's debt as fast as it can. Reading between the lines the board beleives in higher interest rates and wants that debt gone (mid 2022?). In my opinion, that is the smart thing for them to do.