Gold miners are making record profits:
Production margins are at an all-time high as gold prices surge while costs rise much slower. Miners are now earning more per ounce than ever in the past 10 years. Meanwhile, gold miners ETF, $GDX, has skyrocketed 103% year-to-date. Source: Global Markets Investor
The YTD performance of gold is the best since 1979
Source: Augur Infinity
Interesting theory...
The Shanghai Gold Exchange (SGE) has activated two overseas vaults—one in Saudi Arabia, the other in Hong Kong—marking a direct expansion of RMB-denominated gold trading beyond mainland borders. This move represents a strategic move to enhance China’s gold trading infrastructure and strengthen the SGE’s role in global gold price discovery. These aren’t symbolic moves. They’re operational. They’re live. Source: Alasdair Macleod @MacleodFinance
A golden year so far...
Source: GoldSilver HQ
Gold stocks have crushed every sector of the S&P 500 this year
Source: Tavi Costa, Bloomberg
"The Ukraine war and the weaponization of the dollar was the straw that broke the camel's back"
Source: zerohedge
Will Silver be next?
Source: Trend Spider
Gold is overshooting its time trend by 5 sigma
While the real gold price (after adjusted for U.S., CPI) is at the record highs, as this Alpine Macro chart shows. Source: Chen Zhao
