Because the profitability of gold miners depends on the prevailing market price for the goods that they sell, these stocks will generally exhibit a strong correlations to movements in spot gold prices. (etfdb.com)
To check, we relate recent quarterly estimates of central bank gold reserves and quarterly spot gold price, noting that there is roughly a one quarter delay in availability of the former. (cxoadvisory.com)
Gold production companies can also be significantly affected by new gold discoveries as well as jumps in spot gold prices. (wealthdaily.com)