Gold closes 2024 with an impressive 27% annual gain, despite recent struggles near the lower band of its formation. In contrast, miners showed minimal gains throughout the year and suffered significant setbacks following Trump's election victory. Meanwhile, cryptocurrencies surged, overshadowing the performance of precious metal miners. This divergence raises questions about the applicability of the efficient market hypothesis to the mining sector, as it failed to capitalize on gold's strong performance. The year ends with a sharp contrast between gold's resilience and the underwhelming performance of its related equities.