Nice chart, what it also highlights is how absurdly cheap miners are now relative to the POG. Historically cheap, never been cheaper. As bullish as I am on gold on a secular level, I'm much more bullish on silver and even more bullish than that on miners. Life changing opportunity in this sector but those opportunities never come easy and don't come when the majority expect them to. The longer it's taken to play out and the more frustration I sense from otherwise long term bulls, the closer I know we are to seeing this bull emerge.
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