The Stage Is Set
We believe gold mining equities are on the cusp of significant appreciation, as they fail to reflect the revaluation of USD gold prices that continues to unfold. The strong fundamentals for miners have been largely overlooked, possibly because investors misunderstand developments that have supported the sharp devaluation of the dollar vs. bullion. In our view, gold miners, which display many signs of an incipient bull market, offer significant catch-up potential relative to the metal.
