Abnormal returns

The 2017 Credit Suisse Global Investment Returns Yearbook (CS-GIRY) has been released.  This is the kind of message part of the investment community is looking for in the second half of February.

A case for the 'white precious metals'

The precious metal recovery in January last year was led by gold, with the white precious metals - especially silver and platinum - following reluctantly. The idea of a more sluggish growth in China translated into expectations of lower demand for industrial metals. In January 2016, copper quoted at a decade low. 

Precious metal miners relative to metal prices

Precious metal prices determine the revenue of gold or silver mining companies. Their mining costs may vary widely and moreover are subject to fluctuations of foreign exchange rates.  Yet it still makes sense to compare miners relative to the metals.

Regression between the HUI miners index and the Gold Price

The miners rally since end January 2016 has been almost miraculous, with the HUI index more than doubling over less than six months. Since mid August however, much of the gains have evaporated. That doesn't come as a surprise because gold is back down to around $1260, from its 'lofty high' over $1360/oz both in the second week of July and early August.
Graphs were updated on April 25, 2017.

Silver Miner ETF's - A Benchmark

Silver miners are barely significant when compared to the gold mining sector, Despite doubling, gold miners remain but a niche market. With two Silver Miner ETF's this tiny sector is very well covered.

Designed to outperform

A benchmark among Large Cap Gold Miner ETFs

The first severe correction since the onset of the gold miner recovery that started late January raised doubt and fear among investors. Not surprisingly miners gave way much more than did precious metals. As a result miners slid from overvalued relative to where gold was a month ago to undervalued at present.

Gold miner impulse phase

Over half a year has lapsed since Gold and Silver miners bottomed on Jan 19. Time to make an evaluation of the first half year of a rejuvenated precious metals bull market and the impulse phase on precious metal miners.

The rising tide lifting all boats (?)

"A bull market in mining stocks is beneficial to all of them" is what is depicted by this blog title. Is it really true? Or more precisely to what extent it is true?

The not so 'United' Kingdom

The not so 'United Kingdom' as revealed by the geographic breakdown of the Leave/Remain as revealed by following BBC article (Link in title)

Gold relative to the Philadelphia Gold & Silver Miners index

The past cyclical gold bear market has been both lengthy and severe for the precious metals, but for precious metal miners it has been detrimental. 'How devastating the gold and silver miner bear market has been' is well illustrated when plotting a miners index together with gold on a comparable scale.