Loading ...$XAU
Thank you Nautalus for highlighting the $XAU…the PM Miner Index with the longest history
Here is an amazing Log Monthly Chart which shows your point
The XAU is at the same exact Value today at Gold 1850 as it was in 1996 at Gold 350
So Gold has risin over 500% while the XAU has gone NOWHERE
However …we are absolutely in a Bull Market…Higher lows and Higher highs ..since 2016
Sure doesn’t feel like it though..
I stare at that quite often myself. Share dilution, cost inflation…. my TSX venture chart shows shit volume and very possible big drop washout. I may actually vomit this time if it happens.
https://www.tradingview.com/x/4MRXUXKh/
“Share dilution”
Bingo.
A share is not a constant share.
Would be interesting to see a chart of shares outstanding, not just price.
Buybacks are popular with investors for a reason, even if they just mop up the excesses (of issuing shares as compensation to execs and employees etc.)
It would be nice if XAU can close this month over the 50 month MA.
You are correct from that chart that the XAU is in an uptrend. The difference between now and the prior bull run from 2000 is that we have never gotten a decent trending move that honors key moving averages, The run from 2000 never once close below the 50 month MA. This run, not so much. It’s been ugly and near impossible for traders to find a trend unless they are willing to suffer through severe drawdowns for years.