Here’s some of the sweetest charts and excerpts from the free 60-page report. It sure looks like a good time to have some trust in gold…
by Ronald-Peter Stoferle & Mark Valek of Incrementum
Some highlights from the extensive report:
- The gold standard of gold-research: Extensive annual study of gold and gold-related capital market developments
- Reference work for everybody interested in gold and mining stocks
- International recognition – newspaper articles in more than 60 countries, more than 1.5 mn. readers
- German and English versions, available in a Compact and Extended version
- Published for the 11th time in 2017
“… Stocks, bonds and real estate have all become as overvalued as we have ever seen any one of them individually in this country. The end result of all of this money printing and interest rate manipulation is the worst economic expansion since the Great Depression and the greatest wealth inequality since that period.“ – Jesse Felder
The bear market since 2011 has been following largely the same structure and depth as the mid-cycle correction from 1974 to 1976.
In relation to the S&P500, the GSCI commodity index is currently trading at the lowest level in 50 years. Also, the ratio sits significantly below the long-term median of 4.1.
The dominant currency is always issued by the economically dominant country of an era. Gold has always played a decisive role when the changeover from one global currency to another one took place. One can roughly speak of a revaluation of real assets against financial assets during these changeovers. Reserve currency status does not last forever. At some point, they all have to leave the stage. Will this hold for the almighty US dollar as well?
Based on the premise that the bull market in gold has resumed, we expect the gold-silver ratio to decline over the medium term from its current elevated level. In such a scenario, particularly promising investment opportunities should emerge in the stocks of silver mining companies.
After years of zero interest rate policy, investors have become used to the “monetary surrealism” created by central banks.
Superficially, the current situation in financial markets appears promising. We believe this perception, which is reflected in market prices and valuations, is incomplete and highly inconsistent.
A certain type of fear is currently rife: the fear of missing out. Many skeptics remain on the dance floor – even if they remain close to the exit. The question is whether the exit will be big enough to accommodate all of them?
Whether one fully agrees with our critical assessment of the system is one thing; the question of whether one should hold an appropriate share of one’s liquid wealth in the form of a “golden insurance reserve” is a different kettle of fish.
Incrementum AG is an owner-managed and fully licensed asset manager & wealth manager based in the Principality of Liechtenstein.
We evaluate all our investments not only from a global economic perspective, but by also taking into account global monetary dynamics. This analysis produces what we consider a truly holistic view of the state of financial markets.
Ronnie is managing partner of Incrementum AG and responsible for Research and Portfolio Management. He studied Business Administration and Finance in the USA and at the Vienna University of Economics and Business Administration, and also gained work experience at the trading desk of a bank during his studies. Upon graduation he joined the Research department of Erste Group, where he published his first “In Gold We Trust” report in 2007. Over the years, the Gold Report has proceeded to become one of the benchmark publications on gold, money, and inflation.
Mark is partner of Incrementum AG and responsible for Portfolio Management and Research. While working full time, Mark studied Business Administration at the
Vienna University of Business Administration and has continuously worked in financial markets and asset management since 1999. Prior to the establishment of Incrementum AG, he was with Raiffeisen Capital Management for ten years, most recently as fund manager in the area of inflation protection and alternative investments. He gained entrepreneurial experience as co-founder of Philoro Edelmetalle GmbH.