Central banks are loading up on gold, adding over 1,000 tons to their reserves this year alone. The gold-to-oil ratio just hit its highest level.

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The gold-to-oil ratio just hit its highest level—something that would have sounded like pure fantasy just a few years ago. Mining companies are the ones raking it in right now, and they’re in the driver’s seat as gold prices climb. Gold has surged almost $1,000 an ounce over the last year, while production costs barely increased.