A ten dollar overnight drop in the US gold price will spook the Aussie gold stock shareholders today even though the AUD price is still $1,742 an ounce. This sentiment of being tied to the coattails of the US markets ignores the fact that most of the mining costs for Aussie miners are in AUD not USD and in USD terms the stocks are cheaper to buy. Being included in the GDX and GDXJ doesn't help on USD strength either. Could be a buying opportunity if there is a decent dip.
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