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Tuesday, November 29, 2005 1:41:11 PM
Comparison of HUI to Gold/Oil ratio
Not a perfect fit, but still fairly compelling. Best moves were of course linked with a rising gold price relative to oil 9 (with gold rising as well of course). Makes sense on two levels: expanding margins for the miner's as well as lower oil relative to gold corresponds with periods of declining economic activity (typically).
Gold/Oil ratio at 15 years lows just recently. I think the ratio has more room to run IT and especially LT.
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Comparison of HUI and gold itself
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Weeky gold/oil ratio 15 years
Not a perfect fit, but still fairly compelling. Best moves were of course linked with a rising gold price relative to oil 9 (with gold rising as well of course). Makes sense on two levels: expanding margins for the miner's as well as lower oil relative to gold corresponds with periods of declining economic activity (typically).
Gold/Oil ratio at 15 years lows just recently. I think the ratio has more room to run IT and especially LT.
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Comparison of HUI and gold itself
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Weeky gold/oil ratio 15 years
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