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.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.