Gold miners are currently able to purchase 30.33 barrels of West Texas Intermediate crude oil for every ounce of gold they sell, marking the highest ratio in at least 15 years.
Based on historical trends, it is likely that this extreme ratio will revert to the mean, suggesting a potential decrease in gold prices or an increase in oil prices. For the time being, however, gold miners are thriving, as evidenced by the impressive performance of their stock index:
