It took the ratio 10 years to bottom and then around another 10 to base , so any rally may be similar……but if the Adens are right and the metals peak in 2026/7, that means the shares have to stay either relatively stronger or actually…but if ‘they’ want Gold up to reduce debt , they need the mkt to stay up, not drop like all previous bull mkts do, which means the the shares will continue to earn vast amounts …hence an even longer bull run in the ratio, say another 8/10 yrs or more.
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