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The PHLX Gold Silver Index is commonly used as the denominator of the ratio because it is the gold mining index with the longest on the market history. in addition, I think that making use of this index may distort what the ratio is telling us for two reasons, 1) 21% in <a>A.J. Jenkins Jersey 49ers #17 Women printed 2012 Nike 2013 Super Bowl XLVII red</a> throughout the index is Freeport McMoRan Copper Gold (FCX), a business enterprise that derives only 17% of its revenue from gold, and also 2) The top five online businesses in the index together have a 73% weighting. Instead of employing this index, I like to use the NYSE Arca Gold Miners Index because it has a lower concentration in the top constituents and only holds companies primarily involved in gold and silver coins mining,

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