via 321Gold.com - Gold Broker/How Bad Is Sentiment?

In looking around for long term comparisons to the present day, you can find one in the following article. But I would also make a specific comparison with the 73/74 stock market crash, since it was the only comparable with the present day that was not on a gold standard, and gold prices rose as well as gold mining stocks during the rout.

Another time you might want to compare is 1938, when stimulus was withdrawn and the stock market crashed, but also policy rates were set to negative in December. Policy rates follow bond market rates. Gold stocks declined, despite the immense gains to be made through setting the gold price.

Over the long term, gold mining stocks hit bottom only rarely and we are at a sentiment low that has not been repeated in many decades. Gold stocks have been in decline as a whole against gold since 2002.

http://www.goldbroker.com/en/news/gold-sentiment-how-bad-is-it-596

The yield picture does not figure prominently, as most investors are keenly focussed on alpha. And this in a colossal bear market for gold mining stocks against gold.

http://scharts.co/18jQ0nJ

-F6