Not all gold for gold equities

Macquarie sees further short- to medium-term problems for gold miners despite the recent gold price rally.

Gold stocks have been on a tear recently as the price of the precious metal rebounded from its near three-year low, but not everyone believes gold stocks are going to make a comeback over the short to medium term.

If anything, Macquarie has thrown cold water on the gold equities party as it lowered its valuation on gold miners by 20% on average after it adjusted its long term forecast on the yellow metal.

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