The Globe and Mail reports in its Thursday, Nov. 9, edition that the correlation between gold prices and gold miners' shares stands at 0.6 in 2023, down from a historical level of 0.8, according to data from VettaFi going back a decade. A Reuters dispatch to The Globe reports that one signifies a perfect positive correlation, while zero signals absolutely no link. "Interest in gold just hasn't been carrying over into interest in the companies that actually produce it," notes VanEck manager Imaru Casanova. One reason, said Ms. Casanova, is a multiyear buying spree from the world's central banks, which purchased more than 1,100 tonnes of gold last year. That buying helped propel gold to an 11-year record in 2022. In spite of a third quarter dip in central bank buying, the World Gold Council still expects 2023 purchases to approach last year's levels. VettaFi director Roxanna Islam notes that production shortfalls have weighed on some gold miners' bottom lines and hurt share prices. "Gold prices can only help so much, if you can't produce the gold in the first place." Production at Newmont will likely fall short of analyst expectations this year after a just-settled strike at its Penasquito mine in Mexico.