Loading ...Who is leading the dance now?
Miners don’t always lead the dance to signal the end of a bull run in gold… or you need to wait for them (could wait a long time) to get on board the metal’s itself bull run. Common thinking is sometimes a trap… at end of the day.. price action of the chart itself is the ultimate guide.
Make sense, some of these miners are hedged to metal price, so they may take 1-2 qtrs to materialize the higer metal price. till that time they may under perform metal
Its tough to rationalize all that without being an expert in that field. Some could say that materialization should be discounted by the markets now.. hence see miners not lagging as much? Too much for me to follow sometimes. But for sure it would be more bullish if they all steamed full throttle in same direction… but on a daily time frame? Might be too much to ask. I see at end of month if divergence is still there.