Precious Metals Surge On Miners' Backs

Published 10/22/2013, 11:49 AM
Updated 07/09/2023, 06:31 AM

Between the breakdowns in the US dollar and 10-year yield, precious metals have trapped the Johnny-come-lately and dogmatic bears and are surging higher on the backs of their downtrodden miners.

From our perspective, capitulation in the sector is now in the rear view mirror - as the relative performance between the miners and their underlying spot prices has pivoted sharply higher.

Gold And The Bank Index
Gold And The S&P 500
Citigroup And Goldcorp
Bank of America And Newmont Mining
The 10-Year Yield

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