via King World News - Michael Belkin

Gold miners have to be well-positioned NOW to provide a return to shareholders in coming months, as equities are not favoured in a bond market rebound. That means paying out dividends.

One thing completely missed by Michael Belkin is that when stock markets sell off, that means negative nominal rates at the short end of the curve and a steepening of the yield curve. Gold mining companies will be in competition with bond markets as always, their yields must exceed benchmark rates.

Gold prices for their part may see backwardation in the futures markets.

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