The fundamentals remain as bullish as ever, but that doesn't mean we will see higher prices imminently. The XAU mining index is currently trading [Thursday and Friday] below that seen in late March even though gold prices are approx. $90-$100/oz. higher.
Gold stocks’ best-performing subset has been pummeled lower recently, leaving a wake of devastated sentiment. Traders have wholesale abandoned the mid-tier and junior gold miners which are this sector’s sweet spot for..
The bottom line is the major gold miners just reported yet another excellent quarter. Higher prevailing gold prices and recovering production drove surging revenues.
