watched this last night and it was certainly interesting to get a different view.
I’m not sure I agree that oil (or cost of production) is the primary driver of POG though. Certainly it’s a factor but not the main factor IMHO. Look at the uranium market for eg where the spot price remained below the cost of production for many years. I certainly agree that eventually any commodity price needs to be above cost of production though, but there can be a time lag. Also it is highly unlikely that POG would fall below 1350 (current av cost of production) for any extended period of time (so Harry Dents forecast is either wrong or very short lived).
I still believe real interest rates are the primary driver for POG but there can be a time lag with that too.
was good to get an alternative take thanks for posting.
CAI Price at posting:
83.0¢ Sentiment: Buy Disclosure: Held
(20min delay)