I would like to see a more decisive decline to mark a cycle low though. If you are a long term “OldTurkey” type investor just ignore the daily cycles. But if you are still trying to enter positions with as minimal draw down as possible you might wait a bit and see if gold experiences a larger drop this week into a more normal daily cycle low.
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.