When you see the higher real costs paid for production, the capital write-offs, and the lower than expected earnings of the majors, I would really think that Royal would be setting new highs. What am I missing?
RGLD is doing very well. It is the No. #1 place to be for gold equity IMO. What is happening IMO is that all gold stocks are experiencing shorterm overhang due to the prior drop in gold. Once gold gets its bearings again, gold stocks may pierce through the overhang and make new highs. People are waiting to see if gold holds over 1600. If that happens, we may see a beautiful run for gold stocks heading into the summer. :)