Over the past few decades, the oil price and gold price have tended to track in the same trajectory. Given the wide gulf between the price of these two commodities at current, isn't it possible that precious metal prices might be in store for a crash rather than just a correction?.
It's possible Patrick, though I'd note that during risk off markets gold tends to be negatively correlated to equities, unlike the broader commodity markets. What happens in the months and years ahead remains to be seen - certainly I can understand why some are nervous about gold given its rally over the last 2 years, even I personally think prices will remain biased to upside in years to come.
Thanks Jordan, appreciated. I agree with you with respect to the long term picture for gold, though I get a sense there might be an excess of ebullience in the gold space (particularly with respect to the gold small caps) at current.
I think when you never stop running the printing press everything as we have known it going out the window. Someone told me a trillion seconds = 31000 years