Investors are not investing in gold because the Federal Reserve calms investors that inflation is only temporary and transitory, wait till inflation rate hits double digit as in the 1970's investors will panic and gold price and mining stocks will surge sky high. Just as in any spiking prices, commodity prices may pull back temporarily as supplies rise, but it does not mean rising commodity prices have ended, exponential growth in money supply is inflationary, the surge in commodity prices is only signaling the beginning of an inflationary era.



Gold and XAU technicality
https://investorshangout.com/images/MYImages/...2,2021.gif



Gold price daily
https://bigcharts.marketwatch.com/advchart/fr...;x=42&



XAU Mining Index daily
https://bigcharts.marketwatch.com/advchart/fr...&timeF