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“In Gold We Trust” Annual Report Shows New Bull Market “Emerging”

Commodities / Gold and Silver 2016 Jul 05, 2016 - 04:46 PM GMT

By: GoldCore

Commodities

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 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

This update can be found on the GoldCore blog here.

Mark O'Byrne

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