Who knows what is going through a typical tops and bottoms picker's mind. Maybe they think XAUUSD has tanked and FOMC is the confirmation of that top? Folks only have to go back from 2011 to see that NST has not correlated well with the falling gold price. In fact is was negatively correlated I would argue.
http://www.shortman.com.au/stock?q=nst
This i s not suggesting the sell off recently is a short attack. Just a product of gold in a tight range post Brexit and rate hike talks are providing a lot of noise to the market in general. Add the Plutonic sale and the gold production has fallen and folks are not appreciating this sale actually decrease global AISC across their mining operations.
I have been wrestling with the correlations of USD to gold for a long time and flipping historical context is still a very grey area. Nothing is as crystal clear with this metal compared to energy or IO commodities. Basic economic growth through demand or tapering growth with surplus.
Who knows what is going through a typical tops and bottoms...
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Last
$15.90 |
Change
-0.230(1.43%) |
Mkt cap ! $18.16B | |||
| Open | High | Low | Value | Volume |
| $16.23 | $16.23 | $15.89 | $28.19M | 1.757M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 21 | 9551 | $15.89 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.90 | 1600 | 10 |
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| Last trade - 12.40pm 04/12/2024 (20 minute delay) ? |
| NST (ASX) Chart |
