HAPPY ANNIVERSARY!!
Covid Crash started right about a year ago, so I thought it would be fun to take a trip down memory lane and have a look at the charts for QAU gold etf (proxy for gold price) vs the above-mentioned mining stocks EVN and BGL...
QAU
EVN
BGL
And all 3 compared on the same chart...
Interesting how things tend to correct, given time.
EVN was a bit overvalued,
trading ~3X assets at peak, while BGL was over 10X.
Now:
EVN ~2X
BGL ~5X. Still technically overvalued, but having been repeatedly hammered... may get an oversold bounce at this point.
