On September 11, 2021, we said the following:
Gold stocks are generally undervalued. However, there is some intermediate downside risk. The time to consider gold stocks would be when/if the XAU index can decline below 117.18 and remain above the ascending 86.26 level.
Instead of declining to 86.26, the XAU index fell as low as 91.40. However, that was all the index need to bottom and move higher afterwards.
See also: