Not so much looking at the ratio as the relative performance of gold lately. Crude getting hammered and perhaps that is hurting gold a bit. But it is hanging in there over this year's lows. Also, isn't the seasonal on gold up in the next month? Bearjr?
we have had a big more from 40-1, all the way down to 15-1
15-1 is close to the long term average. so it is possible we are just getting a reversal in that trend.
we may go back to 20 or even a little higher. yes, 1200 vs 60 is a ratio of 20-1
but at some point it should get back under 10.
what intrigues me more is the oil-silver ratio. a couple times each century it goes back to 1 - 1 ...
Thanks bear.
Noting day to day action.... (probably shorter term view than you take)
Crude paused and gold rallied.
Gold catching a bid this morning...