• 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 ....
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The Shadow Price of Gold – August 2019 update
- Published:
15 Aug 2020 -
Author:
Matt Fletcher -
Pages:
10
• 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 ....