For context, spot gold prices currently sit at $1,892.89/oz.
This amount matches projections from last year’s report, though if monetary supply growth matches roughly that of the 1970s, then the gold price could hit $8,900/oz.
The authors also argue that this scenario can coexist in a hyperinflationary world where Bitcoin thrives too.
The Golden Decade?
Gold had a remarkable 2020, increasing its value by 24.6% in U.S. dollars and 14.3% in euros. The metal’s price hit all-time highs in a number of currencies, as investors began to anticipate increasing inflation as a result of the global pandemic and the reopening of economies worldwide.
Top Performing ETFs For May 2021
Gold and silver miners as well as oil and energy ETFs dominate the list.
Author:
Gold and silver miners as well as oil and energy ETFs dominate the list.
May was a month of relatively modest returns for U.S. stocks. The S&P 500 (SPY), the Russell 2000 (IWM) and the Nasdaq 100 (QQQ) were all little changed, while U.S. Treasuries were essentially unchanged. International stocks performed better with developed markets gaining around 3% and emerging markets adding 2%.
The big story of the month, however, was the commodities market. Prices on everything from lumber to steel to wheat to oil have been soaring. Industrial commodity prices in some cases have come crashing back down to earth, but precious metals have done well as inflation expectations continue to rise and the dollar continues to fall.