Global Investment Returns Yearbook 2024

Today the Global Investment Returns Yearbook for 2024 has been published by UBS Global Wealth Mgt, in collaboration with the Credit Suisse team who have been publishing previous versions.

Long term performance of precious metal miners.

Poor long term performance of most precious metal miners causes the HUI index of unhedged miners and the Philadelphia Gold and Silver miners index (XAU) to lag both precious metals and the general stock market.

World Currency System Documentary

Another good watch from a decade ago, which could well have been published today. Public debt has only been growing, doubling about every 8 years in the US. With interest rates rising, the revenues needed to service that ballooning debt simply are not there anymore. If additional credit is needed to pay for the interest on the principal, the pace of debt increase is likely to spiral out of control. Let's focus on the documentary now:

End Of The Road: How Money Became Worthless - Wall Street is being occupied. Europe is collapsing in on itself. Around the world, people are consumed by fear and anger, and one question is on everyone's lips: Is the financial crisis over, or are we headed towards economic disaster? End of the Road is a documentary that chronicles the global financial collapse.

The System of Money Creation

This film presents serious research and verifiable evidence on our economic and financial system.

Honoring the first gold-bug, Jim Sinclair

Last month, on 6 Oct , James E. (Jim) Sinclair passed away at the age of 82. Jim Sinclair was the 'first gold bug'. 

Where have all the bloggers gone?

An unusual short topic for this blog. I'm wondering about a lot of early days colleagues and predecessors. As time went by, the blogging scene on precious metals and mining has become more or less a wasteland.

When precious metals rise for the wrong reason ...

Halloween is a moment to look back at the month of October ending. Gold plunged into October, putting down a bottom at $1820.2/oz on 5 Oct. The cruel invasion of Hamas terrorists into Israel on Sat. Oct 7 sparked the reversal. The yellow metal gained $100/Oz during the following week. On Friday 27 Oct gold once more broke above the psychologic $2000/oz.

Are miners locking in a linear regression to the gold price?

A nascent regression between gold miners (using the HUI index of unhedged gold miners) and the yellow metal may finally interrupt the unabated miner slide relative to gold.

The summer minimum

Demand for gold for jewelry tends to ease during summer. Jewelry producers and  mints allow for their staff to take a summer break. Unless there is any other pent up demand, gold prices are usually weaker during summer.

Permanent impairment of precious metal miners to the price of the metal

Miners not only fail to hold on to the elevated precious metal prices, over the long haul they gradually are lagging more and more. Since this holds for the majority of miners, both large caps and smaller miners, you cannot diversify away any specific mining risk.