Michael Oliver, the man who is well known for his deadly accurate forecasts on stocks, bonds, and major markets, sent King World News a note warning the public has it wrong once again when it comes to the gold sector.

Yet another false popular assumption
March 18 (King World News) – Michael Oliver, Founder of MSA Research:  Making the rounds now is the case of the high cost factor in mining due to a sharp increase in oil prices.

Meanwhile, as analysts have been conveniently ignoring the exploding profit margin—due to the rise in gold and silver for their miners—they like to grab onto this supposed issue as a big negative.

Well, oil has had two massive runs well over $100, the most dramatic one back in 2008. Actually, there were years of sharp advance that sustained prior to that high, and that no doubt cut into miners’ profit margins. Yet during that same time, the miners quintupled in price.

KING WORLD NEWS NOTE: Mining Stocks Quadrupled Even As The Price Of Oil Surged To $140 In 2008.

And if you simply measure the price of an ounce of gold (a key profit factor for miners) vs. oil (a key cost factor for miners), you find this reality.

Back in 2008 when oil reached $140, it was 15% of gold’s price (per ounce). In 2022 when oil peaked at $130, oil was just over 6% of gold’s price. Now oil is below 2% vs. an ounce of gold.

KING WORLD NEWS NOTE: Oil Price Reached 15% Of Gold’s Price In 2008, 6% In 2022, But It Is Below 2% Today. Even If Oil Surges To $150 It Would Only Be 2.9% Of The Price Of Gold. Meaning, Virtually No Impact Whatsoever On Mining Stocks Because Oil Would Remain Historically Cheap vs Gold.

Imagine the “nightmare” of crude going to $150 as many “analysts on CNBC and elsewhere have been chattering about. If gold stayed where it is now at $5061, then oil at $150 would be 2.9% of that price. Oh, my goodness! So you decide whether oil is an offset to profits for the miners—or whether it’s just noise out there that the gold ever-bears like to hype. KING WORLD NEWS NOTE: The commentary and charts were part of a much larger special report released by Michael Oliver.  You must subscribe to Michael Oliver’s MSA Annual Service to get his special reports as well as his stock picks which have dramatically outperformed.  To receive the special KWN discount to subscribe to Michael Oliver’s internationally acclaimed MSA Annual Research and gain access to their research and stock picks subscribe today by CLICKING HERE!

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