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As Positive Catalysts for Gold Emerge, Which Miners May Benefit?

Annie Gilroy
As Positive Catalysts for Gold Emerge, Which Miners May Benefit?

Gold miners as a whole are looking inexpensive compared to broader equities. The average ratio of the NYSE Arca Gold Miners Index (GDX) and the S&P 500 Index (SPY) is 0.20 compared to the ten-year average of 0.68. While broader equities’ valuations have continued to increase, the valuations of gold stocks haven’t kept the pace, and the ratio has fallen.