Gold Miners COLLAPSED: Why They Are CHEAP NOW | Michael Oliver #shorts

Michael Oliver argues gold and silver miners remain historically cheap relative to bullion, pointing to the post-2008 collapse in miner valuations and noting that by 2015 they fell to about 4% of gold’s value. He says that for the past 11 years the miners-to-gold spread has mostly oscillated in a 5%-8% range, implying the sector is still undervalued versus the metal. The thrust is a relative-value call rather than a near-term price forecast: if the miners are still trading at the low end of that long-run range, they may offer substantial leverage should gold and silver continue higher. The comments are framed as a valuation argument for gold/silver miners, not a fresh read on supply, flows, or macro drivers. For the desk, the takeaway is limited direct spot impact but some supportive read-through for mining equities and potentially broader precious-metals sentiment if investors rotate into levered beta. Near-term catalysts would be any move in bullion that starts to compress the miners/gold valuation gap, but the clip itself provides no fresh market data or timing signal.