I've been trying to find a very long term gold / crb ration, but have had to make do with the following construction, for 1970 to 2009.

The ratio has corrected down recently from around 5 to just below 4, as oil etc bounced. But if it holds anywhere near this area, it represents a substantial increase of the real price of gold, or decrease of many relative material costs, compared with the last forty years at least...perhaps 100 years.

Should mean a large long-term shift in profitibility for gold companies. Hui may be overbought, but it' s still lower than it was 1-2 years ago. Expect gold shares will correct down, but hopefully the HUI and SANGOLD will out perform in the future if this ratio holds. Anyone have the very long chart?