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<p>[QUOTE="medoraman, post: 3710582, member: 26302"]I would respectfully disagree about oil and gold correlation. I never look at this correlation in short term, of course, as I wrote, inventories can distort this for quite a long time. I am talking about a baseline assumption for long term performance. A lot of things will affect short term performance, (to me a couple of years is short term, I invest for decades, not days). As a base, you have to factor cost of production, and the most important variable cost of production is oil. Now, layer on 20 other factors and you have the gold price. Of course for a year or two they could have negative correlations even, but long term they economically must correlate at some point.[/QUOTE]</p><p><br /></p>
[QUOTE="medoraman, post: 3710582, member: 26302"]I would respectfully disagree about oil and gold correlation. I never look at this correlation in short term, of course, as I wrote, inventories can distort this for quite a long time. I am talking about a baseline assumption for long term performance. A lot of things will affect short term performance, (to me a couple of years is short term, I invest for decades, not days). As a base, you have to factor cost of production, and the most important variable cost of production is oil. Now, layer on 20 other factors and you have the gold price. Of course for a year or two they could have negative correlations even, but long term they economically must correlate at some point.[/QUOTE]
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