gold price may avalanche, page-117

PM equities may be lagging because PMs have not risen enough to compensate for increased input costs like oil. One oz of gold buys 17 barrels of oil now vs. a long term average of 20. When gold catches up on its lag and gets to $2000 (assuming oil doesn't rise in meantime too which would mean gold needs to rise further) PM stocks may have a good run.