GoldNuggets Digest: gold mining stocks' relative performance, the relative strength gap, miners vs S&P500 relative value, oil and gold vs the rest of commodities, supercycle scintillations...
Despite being a huge gold bull, I voted for "something else": Uranium/generally Nuclear energy tech. You should track those at least as closely as Gold, and at least since 2020. Incidentally, in the short term (6-12 months) crude may have a big spike as Russian oil machine is coming to rather crashing halt. Given anti-correlation in the nice chart of long-term Gold/Crude you show, that MIGHT mean a pause in Gold, despite it having everything going its way. But heck, with the worldwide mess of uncertainty, they might melt-up together! I'm holding both.
Indeed, agree on that point if oil goes up for geopolitical shocks then gold probably holds or gains (vs if oil goes up for risk-on/global growth acceleration etc).
Interesting point on nuclear, I will look into adding that to coverage.
Your diligence is exemplary. In case you are new to Nuclear energy, here is a very simple introduction, which is so basic, it is not out of date now, a year after I wrote it: https://mathematicuslabs.com/over-a-barrel-go-nuclear/
Excellent perspective and analysis as always, Callum.
Despite being a huge gold bull, I voted for "something else": Uranium/generally Nuclear energy tech. You should track those at least as closely as Gold, and at least since 2020. Incidentally, in the short term (6-12 months) crude may have a big spike as Russian oil machine is coming to rather crashing halt. Given anti-correlation in the nice chart of long-term Gold/Crude you show, that MIGHT mean a pause in Gold, despite it having everything going its way. But heck, with the worldwide mess of uncertainty, they might melt-up together! I'm holding both.
Indeed, agree on that point if oil goes up for geopolitical shocks then gold probably holds or gains (vs if oil goes up for risk-on/global growth acceleration etc).
Interesting point on nuclear, I will look into adding that to coverage.
Appreciate your thoughts!
Your diligence is exemplary. In case you are new to Nuclear energy, here is a very simple introduction, which is so basic, it is not out of date now, a year after I wrote it: https://mathematicuslabs.com/over-a-barrel-go-nuclear/