A Trend Reading of Miners’ Correlations to Gold
Mining stocks’ correlation with gold is crucial since gold is the big brother of precious metals. The directional move in the remaining three precious metals—silver, platinum, and palladium—often depends on gold. For our correlation analysis, we’ll look at AngloGold Ashanti (AU), Hecla Mining (HL), Kinross Gold (KGC), and Eldorado Gold (EGO). Mining-based funds also have a high correlation with precious metals.