Are miners locking in a linear regression to the gold price?

A nascent regression between gold miners (using the HUI index of unhedged gold miners) and the yellow metal may finally interrupt the unabated miner slide relative to gold.

The summer minimum

Demand for gold for jewelry tends to ease during summer. Jewelry producers and  mints allow for their staff to take a summer break. Unless there is any other pent up demand, gold prices are usually weaker during summer.

Permanent impairment of precious metal miners to the price of the metal

Miners not only fail to hold on to the elevated precious metal prices, over the long haul they gradually are lagging more and more. Since this holds for the majority of miners, both large caps and smaller miners, you cannot diversify away any specific mining risk.

Deflating speculative bubble of catalyzer precious metals

For more than three years, palladium has been more expensive than gold. At best gold briefly reached parity. For one ounce of Rhodium you paid, at its peak price, more than tenfold the price of gold at that moment. Both anomalies have since disappeared. Is the speculative bubble of catalyzer precious metals deflating?

Deutsche Goldmesse, May 2023

The Deutsche Goldmesse is the major precious (and critical) metals and mining event in Europe. Not only is Germany the most populous and prosperous nation in the European Union, Germans have been avid precious metal and mining investors over the last century.

PDAC and BMO spring conferences

Bank of Montreal organizes its 'Global metals and mining and critical minerals' conference in sunny Miami, while the PDAC stays closer to home in Toronto, on its usual venue and time after on-line and postponed/restricted editions previous years.

Future of the monetary system

Monetary largesse and ballooning public debt have been fueling the growth of the money supply. As a result, the fiat based monetary system has been experiencing its first inflationary surge in the 21st century. What does the future hold for the monetary system? Macroeconomic imbalances and geopolitics may accelerate change in the current largely USD-based monetary system into a more multipolar one.

Global Investment Returns Yearbook 2023

The Credit Suisse Global Investment Returns Yearbook 2023 offers unique data on long-term investment returns. Read the latest edition to discover how different asset classes have performed since 1900 around the world, and to find out how a historical perspective can help today’s investors plan for the future.

Vancouver Resource Investment Conference (VRIC-2023)

The annual Vancouver Resource Investment Conference is being organized on Jan 29 and 30.  Over 300 junior mining companies are gathering in Vancouver, British Columbia to showcase exploration and production of the most critical commodities the world needs to move forward in the 21st century.

Gold is ending 2022 flat, but miners slide

Eventually Gold is ending 2022 nearly flat (-0.3%) but miners still give way. The HUI gold miners index of US quoted unhedged miners is losing 11.25% over 2022.