Precious metals boosters will see gold's nominal price break upward and probably get excited. They will marshal the troops for what could one day turn out to be a full fledged tout, as if the 40% decline of the last 2.5 years had never happened.
But it is gold’s ratios to positively correlated assets that tells the interesting story. Vs. Crude Oil, the story could be shaping up to be a positive one for the gold mining industry, which is counter cyclical and obviously energy and fuel intensive. [Read more...]