Latest Content

Commodities - Metals & MiningIndices and MarketsCommodities - Metals & MiningIndices and MarketsCommodities - Metals & MiningIndices and MarketsCommodities - Metals & MiningIndices and MarketsCommodities - Metals & MiningIndices and MarketsCommodities - Metals & MiningIndices and MarketsCommodities - Metals & MiningIndices and MarketsCommodities - Metals & MiningIndices and MarketsCommodities - Metals & MiningIndices and MarketsCommodities - Metals & MiningIndices and MarketsCommodities - Metals & MiningIndices and MarketsCommodities - Metals & MiningIndices and MarketsCommodities - Metals & MiningIndices and MarketsCommodities - Metals & MiningIndices and MarketsCommodities - Metals & MiningIndices and Markets
The Shadow Price of Gold – August 2019 update

• This note provides an update to our previous analysis1 which relates the US monetary base to gold reserves to derive an implied or shadow price of gold • Our updated estimates imply a shadow price of gold of $12,620 and $3,155 assuming 100% and 25% monetary backing respectively • Using the shadow price methodology in conjunction with the historic gold-silver price ratio we calculate a shadow price of silver to be $220 at 100% monetary backing and $55 at 25% backing • Since we published our initial research one year ago, gold and silver prices have increased by c30% and c17% respectively • The recent gold price rally has been driven primarily by falling bond yields and concerns over global growth • Over the medium-to-long term we show that a relatively limited increase in the medium- term inflation rate could have a significant impact on the price of gold • We conclude there remains significant upside potential for both gold and silver prices and believe they deserve a place in a diversified investment portfolio

  • 15 Aug 20
  • -
  • -
 

SEAL Advisors Ltd Research and Daily Commentaries

Research Tree offers SEAL Advisors Ltd research, providing ongoing coverage of 1 shares , as well as macro-economic categories including: Commodities - Metals & Mining and Indices and Markets. We offer 2 reports from SEAL Advisors Ltd on Research Tree.

  • Research reports provided by SEAL Advisors Ltd

  • Companies covered by SEAL Advisors Ltd

  • Sectors covered by SEAL Advisors Ltd