Loading ...GLD V Miners
Found these two graphs in the article below. The premise is that GLD is over valued compared to miners and that GDX is overvalued compared to GDXJ. So either gold falls from here or will the miners, especially the juniors, play catch up soon.
Makes sense. I think we’ve all noticed that gold has made some gains lately, whilst the miners have hardly reacted. I think the next big move is close at hand and when we finally see the dollar break blow its 200dma, gold will take off and clear $1300. At that point, the miners should outperform gold.