Thanks for the views.
Capital intensive miners had low interest rates and low fuel costs to help profitability, but prices of both of these big inputs seem to be increasing.
Although I do not understand how it works, Russia has pegged the rouble to gold. Does this mean their central bank needs to purchase gold if it wants to increase their money supply?
Also a decent yield from a company that provides a necessary good or service appeals to me more than gold. Still a speculation for me but will hang in there for now as I do not trust central bankers to do the right thing and provide price stability.