POG had risen four straight days in a row , from $1284 to $1342 , almost $60. So I guess it was due for a correction.
Whether last nights move is part of another larger move lower , we'll have to wait and see .
I'm not convinced we've seen the last of this rally yet , as there was some high conviction in the buying volumes on gold equities in the last few sessions (especially in larger overseas goldies).
Gold equities generally lead the gold price higher and have been outperforming gold of late, so look for some relative strength today for confirmation of this trend continuing.
AMX Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
