Mining?,,,Gold was selling at about 250 times the price of copper when gold was around $1000/oz and copper was around $4/lb...
Gold is now selling at about 670 times the price of copper with gold around $871/oz and copper at about $1.30/lb...Scrap copper is only paying between .70/lb to .90/lb now roughly...
The distortion of gold times silver's price is almost twice what it was when silver was around $20/oz...Silver is around $10.53/oz...Aluminum is around .20/lb. now...
Is China going to start re-build using gold and/or silver in the areas that were impacted by the destructive earthquakes in 2008?...Not likely...
The miners focused on copper and maybe aluminum companies will see a rebound in demand in 2009 if the auto industry finds just a little higher sales plane in 2009...
Only a Wag in a headwind right now, of course...LJ
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