Hello! Gold is heading up and the PMs are yawning or even going down. What's the deal?
It must be because the general market is tanking again. It must be that some general non-gold Mutual Funds start selling everything, including their gold stocks. Or that old theory that traders who get margin calls because their tech stocks are tanking, choose to sell their gold stock holdings also.
Beats me why anyone would sell their PMs with gold rising from a correction low.
The sheeple still think of the PM's as just another stock. They view gold as a commodity, not money. If the economy is slowing as indicated by the level of the S&P, it therefore follows that demand for commodities will slow.
There will have to be an economic event of some magnitude before the sheeple get a clue as to what gold is. 10,000 years of history have escaped notice. It's 'different this time'.
In the meanwhile, the gold equities will head south every time the SM goes down. Majority rules. Seymore is correct in following crowd sentiment & momo. I'll bet his account looks pretty good.
I know it's repugnant to see gold stocks declining as the economy is on the verge, and there WILL be a disconnect at some point. Meanwhile us 'True Believers' have been getting hammered for years by betting our sentiments instead of betting on the sheeple's blissfull perceptions.