RE:RE:Pure vs Integrated GoldsWhat makes you think that for gold:copper, gold:oil, etc ratios to normalise gold has to drop? why can these ratios move back to normal by copper and oil rallying higher?
gold is a monetary metal with price driver being investment demand, benchmarking it against commodites driven by fundamental supply/ demand may not necessarily be appropriate.
gold mining shares relative to gold have never been as cheap as they have been lately while gold miners are more profitable now, at the bottom of the cycle, than they ever were during the 2011 peak. so to me this space is undervalued and poised to break way higher in the next few years.