Here's my view on the precious metals. They tend to follow the price of oil but with a lag.
If you look at a chart of gold and oil prices, they are highly correlated over the long-term.
Oil bottomed in 1998, gold bottomed in 2001 (3 year difference).
Oil topped in 2008, gold topped in 2011 (3 year difference).
Oil bottomed in 2020, gold to bottom next year?
Would be pretty cool if it did. Like during a recession or something, Uganda supply FUD, etc.
