you are confusing a technical with a fundamental debate.
i don't disagree with your points (except for your assertion that many gold stocks ex NEM are going up today...i hold 13 different ones, of which exactly one is up right now. 2 or 3 are unch., the rest is down), but that was not what this was about.
btw, re. Swiss sales, i don't think they matter much, since the market knows about them.
to come back to my earlier point, gold and XAU rallies need to confirm each other, and preferably, the XAU should lead. likewise, when the PoG is falling to a new low, while the XAU doesn't, the decline will be unconfirmed, and a rally becomes likely.
there are so many examples for this, that it is a contention that is beyond dispute imo.
regards,
hb |
