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Otavio (Tavi) Costa, portfolio manager at Crescat Capital, observes that money supply is currently growing at its fastest pace in 5 years.
This development points to significant expansion in monetary policy conditions.
Costa has previously highlighted that gold miners are trading at historic discounts to the S&P 500 despite solid fundamentals. He has also noted that gold miners are approaching support levels last visited nearly four decades ago. These observations come as Costa assesses shifts in money supply growth and sector valuations.