The “In Gold We Trust” Annual Report by fund managers, Ronald-Peter Stöferle and Mark Valek has just been published and is as ever essential reading for all seeking to better understand the gold market.
Last year’s report by Ronnie and Mark from Incrementum in Liechtenstein, was downloaded more than 1.5 million times and the report is now one of the most widely read gold studies in the world. The 170-page publication is as comprehensive as ever with many great tables and charts. It concludes that a new gold “bull market is emerging.”
– Gold is back, a new bull market is emerging
– Increasing uncertainty about economic and political developments boosts the gold price
– Monetary stimulus ongoing: the BoJ and the ECB are creating the equivalent amount of the world’s entire annual gold production via their QE programs each month
– BREXIT: Uncertainty will negatively affect growth. Further monetary and fiscal stimulus to be expected to counter further disintegration of the Union
– Dollar strength upon US-recovery and normalization was major contributor to gold/commodity weakness of the last years
– The narrative of economic recovery is crumbling; US recession cannot be ruled out; faith in monetary policy measures declines
– Continued depreciation of the US dollar and strength in commodities may lead to higher inflation, or maybe stagflation
– The persisting low interest rate environment is leading to a revival in interest in gold investments on the part of institutional investors
– In addition to gold, this generally means a positive environment for inflation-sensitive assets like silver and mining stocks
– Incrementum confirms its long-term price target of USD 2,300 for June 2018 – New Gold “Bull Market Is Emerging
The full report can be read
here
Gold and Silver News
China buyers drive silver prices higher (WSJ)
Silver crushes even gold as it powers to 2-year high (Marketwatch)
Gold retreats, correction seen short-term (Reuters)
Still stronger gold price ahead (Credit Suisse)
Precious Metals Shine Bright for Brexit Haven Seekers (Bloomberg)
Gold pushes back towards 2 year high, silver crosses $21oz (Reuters)
Is Gold the Answer to Negative Rates and Brexit Woes? (Bloomberg)
ETF Securities Reports Biggest One-Day Gold Inflow Since Financial Crisis (Zerohedge)
Bear Stearns 2.0? UK’s Largest Property Fund Halts Redemptions, Fears “Vicious Circle” (Zerohedge)
Detonation of the LBMA – It Wasn’t Brexit, Governor Carney (Safehaven)
Read More Here
Gold Prices (LBMA AM)
05 July: USD 1,344.75, EUR 1,207.05 & GBP 1,023.89 per ounce
04 July: USD 1,348.75, EUR 1,213.07 & GBP 1,016.42 per ounce
01 July: USD 1,331.75, EUR 1,199.51 & GBP 1,001.34 per ounce
30 June: USD 1,317.00, EUR 1,183.59 & GBP 976.82 per ounce
29 June: USD 1,318.00, EUR 1,191.64 & GBP 984.36 per ounce
28 June: USD 1,312.00, EUR 1,185.79 & GBP 985.84 per ounce
27 June: USD 1,324.60, EUR 1,200.49 & GBP 996.36 per ounce
Silver Prices (LBMA)
05 July: USD 19.73, EUR 17.69 & GBP 14.99 per ounce
04 July: USD 20.36, EUR 18.31 & GBP 15.36 per ounce
01 July: USD 19.24, EUR 17.29 & GBP 14.48 per ounce
30 June: USD 18.36, EUR 16.48 & GBP 13.61 per ounce
29 June: USD 18.21, EUR 16.42 & GBP 13.55 per ounce
28 June: USD 17.57, EUR 15.84 & GBP 13.17 per ounce
27 June: USD 17.70, EUR 16.06 & GBP 13.40 per ounce
Recent Market Updates
– 3 Charts Show “How Precious Brexit Is” for Gold and Silver Bullion
– Gold, Silver Best Performing Assets In H1, 2016 – Up 26% & 38%
– BREXIT Creates EU Contagion Risk – Ramifications for Investors, Savers and Companies In Ireland
– BREXIT Day – Markets Becalmed – Gold Panic Prelude – Trading Hours
– Gold Lower Despite “Panic” Due To “Supply Issues” In Inter Bank Gold Market
– Gold Slips Despite UK Gold Demand Surging – Investors “Seek Stability”
– Gold Prices Surge to Highest in Nearly Two Years On FED and Brexit Haven Demand
– Gold Bullion Has Little Downside, Brexit Or Not, Says HSBC
– Central Bank of Ireland Warns Risks are Debt, Brexit, Geopolitical Tensions and Migration
– Gold In Euros Surges 6.5% In June and 17% YTD On BREXIT Concerns
– Soros Buying Gold On BREXIT, EU “Collapse” Risk
– UK Gold Demand Rises On BREXIT “Nerves”
– Pensions Timebomb in “Slow Motion Detonation” In UK, EU, U.S.
– Silver – Perfect Storm Brewing in the Market
– Martin Wolf: There Will Be Another “Huge” Financial Crisis
