The Global Mining Symposium

An early start

Ronald has been interested in Gold and financial market since his early youth. With 12 he started investing in equity markets. After the Dot-com bust, he tried learning about financial markets at university. After joining a bank in Vienna and investing into mining companies he started the publishing the first In Gold We Trust report in 2007.

What is driving the gold price right now?

Gold, Silver and mining Companies are currently in a new bull market. Gold is rising in all currencies and compared to bonds. Some miners are even outperforming it. This new bull market started before COVID-19 struck. It is not that gold is rising so much, it is rather that the fiat currencies are getting weaker and weaker. Globalized zero interest rates also are a big driver of the gold price. All in all, we see a strong bull market ahead of us.

The Projection

With the virus opening the door for MMT, helicopter money and the nationalization of the credit system gold is sure to keep rising over the next decade. The big elephant in the room is by how much? In this year’s In Gold We Trust report we proposed a price of $4800 by the end of the decade. This might seem high for a lot of people but it would amount to only roughly 10% growth per year. Looking at how much gold went up in these last months this number doesn’t feel so high after all.

A possible sector rotation?

So far, we have seen huge amounts of money in tech companies. With institutional players returning to the gold market with a focus on gold miners, could see a rotation into this sector? Ronald is sceptical about this as a lot of tech companies still big momentum in these companies. But while growth in this sector has been strong sales and profits haven’t been looking so bright. One has to be careful with these companies.

Topics for the next report

Work on next year’s report has already begun, and we are considering many topics. First it will be 50 years since the end of Bretton Woods. Topics like how to hedge against inflation and stagflation are also being talked about and as always, we plan to stay vocal on alternative currencies like bitcoin.

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Quelle: https://youtu.be/Td18pXJOo8g