The 2021 Preview Chartbook is out!

Historic monetary and fiscal stimulus

We take a close look at the developments concerning Debt and how it climbed to new heights in the year 2020. Also concerning is the further loss in purchasing power, as well as the exploding money supply which we have seen.

The status quo in gold

While we currently see gold in a bit of a pickle following the all-time highs of last year’s summer, overall, the year 2020 was a golden one. We saw all-time highs in many currencies and gold served as a good portfolio defender this year.

Inflation and the Boy Who Cried Wolf

As many will know, we took a closer look at inflation developments last year. We continue to build on this chapter. While inflation hasn’t picked up that much so far, all the indicators correlate with it are pointing towards this. Monetary growth, velocity of money and many others. We also look at what asset classes tend to perform well in inflationary times.

Silvers Silver Lining

Silver also had a great year. It also is still very cheap compared to gold as well as the S&P 500. With recent events like the silver squeeze it will be interesting to follow its further developments.

Mining Stocks – The Party Has (Just) Begun

Our analysis shows, that our current bull market is far from over and that mining stocks are currently still very affordable. Another great point is, that they got their balance sheets in order during the last bear market.

Gold Is Still Largely Underowned

While we have seen institutional investors return to gold this year, speaking in broad terms, gold is still largely under owned. Many nations have built up their gold reserves this year.

Quo vadis, aurum?

As always, we want to answer the question of how the gold price will develop the next decade and beyond. For this we take a look at our own in house made gold price probability chart. We also make a small excursion into the world of beer.