I'm about $50k underwater on gold atm of 22 gold & silver positions. A few strong days of gold will evaporate that amount hopefully, howeve some I just bought recently, the majority are penny's. I took 2 bites on a penny the other day, $500 @ $0.004 and $500 @ $0.002. I have another horrid penny I bought nearly 2 years ago at $0.003, it has sat at $0.001 ever since.
What's interesting is where gold is atm, it is just now not far below the high of 2011 which was @ 1920 level. Another 50 points and we'll be back at that level.
Hourly chart. 12 hours ago it was all looking promising, then wam bang thank you mam it collapsed. Typical!
Looks like a familiar distribution. All this buzz was triggered by that Nov 9 move that popped it above the MA. This will pass. Gold had failed the 2020 Covid crash and it failed for all of 2021 to protect investors from inflation. The time to buy gold is during easing, not tightening.
Newmont vs Barrick, I wouldn't put much relevence on them. In Australia we have Newcrest which if I recall has the largest cap in Aust. gold stocks, also we have Northern Star large cap here, both are languishing. I prefer Kirkland Lake of the whole bunch but I do not hold because its a CDI.