Am I missing something or is this divergence somewhat significant?
in spite of the fact that i'm somewhat boolish on gold, i'll note the following: the rally on the xau and hui was coincident with the rally everywhere else, driven by liquidity. e.g. techs and internets rallied without motivation from real improving fundamentals, so its not in itself too surprising that hui could do that also .... not that that explains it, but it could.