Executive Summary of the In Gold We Trust Chart book
1. Eroding Trust in Monetary Policy and the International Monetary System • As we have forecasted, due to growing recession risks, central banks are about to conduct a big “monetary U-turn”: Expect more QE, lower rates and MMT-style policies like “QE for the people”.
• The erosion of trust in many areas plays into gold’s hands. An end to these crises of trust is not in sight.
• The steady buying of gold and the repatriation of central bank gold indicates rising mutual distrust among central banks.
2. Status Quo of Gold
• 2019 ytd, gold is up in every major currency.
• In many currencies (EUR, AUD, CAD) gold trades at or close to new all-time highs!
3. Gold Mining Stocks
• Mining stocks are in the beginning of a new bull market. Creative destruction has taken place, and leverage on a rising gold price is higher than ever.
• Gold & silver mining stocks are still one of the most hated asset classes these days. The capitulation selling of the last couple of years now offers investors a very skewed risk/reward-profile.
4. Quo Vadis, Aurum?
• Gold has entered a new bull market cycle and might become a core asset for generalists again!
full chartbook in the link below
In Gold We Trust Chartbook 2019 – “Gold Shining Through the Darkening Recession Clouds”