Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

Gold Stocks & Gold/Silver Ratio

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Many gold bugs fail to understand the interplay between gold stocks and the Gold/Silver ratio

Misconception: noun; a view or opinion that is incorrect, based on faulty thinking or understanding

It has never failed. After the blessed 2001-2004 period the “misconceptions” game took over the precious metals as silver took leadership over gold (2004-2007), gold under-performed many commodities and “inflation trades” and the HUI/Gold ratio topped and declined for a long dirt nap, in which it is still snoozing.

That was damage done to the gold mining sector’s internals (even as it continued to rise nominally) by a pervasive inflated macro that was working to the benefit, however moderately, of economies. The HUI/Gold ratio (HGR) declined as it should have.

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