GLD was down on 1/21, but ABX continued trending higher. Yesterday it was down, probably on the HSBC downgrade and on weakness in GLD. Today, it more than made up for yesterday's loss on HSBC becoming old news and strength in GLD. The fact that ABX is in an uptrend cannot be dismissed. The only question is how high will it go before reversing. IMO if the stock breaks through $20.50, Oct high, it will signal a move to mid to upper $20's even without a return to the Oct GLD price levels as long as GLD doesn't move sharply lower near term.
IMO Chilean bureaucrats will look at the price of gold and the financial setbacks to ABX and see that the golden goose could be killed. If that happens Chilean workers don't get employed and bureaucrats don't get payoffs. So, they have to go easy.