By Frik Els
MINING.com
The price of gold fell 3% last week and continued to drift lower on Monday, hitting fresh four-month lows at $1,243 an ounce.
Gold remains some 4% to the upside for 2014 but is down $135 from highs reached mid-March as the rally on the back of safe haven demand and bargain hunting loses steam.
US stock markets however have been on an incredible winning streak.
In a new note, the research team at ETF Securities points out that the gold to S&P 500 ratio has fallen close to its lowest level since early 2008.
Is gold a cheap insurance option right now?”