It's always been that way, even ASX listed goldies are correlated (beta) to USD POG. Exploration spend is also highly correlated to USD POG and uncorrelated to AUD POG. Crazy I know. The mid-tier cash producers are benefiting from high AUD POG, but juniors and micros are getting sold as it more about sentiment.
I'm still bullish on gold and do think we will see some bargains pop up over the next few months.
Ann: Resumption of RC Drilling at the Bulong Gold Project, page-14
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