The gold shares are deeply oversold and most likely will, in any rally in the gold price or turnaround, outperform the bullion price by distance.
If the gold bullion price can hold the US$ 1,080 per ounce level in the next few days a sharp rally in gold shares could occur.
The 2nd chart shows the (XGD) CAD 7.49, the ETF on the Toronto Global Gold index. The 3rd chart shows the NUGT US$ 3.09, Dirextion daily Gold Miners Bull with 3X leverage, hence highly speculative.
From the ShortSideofLong