We worked out the following four scenarios for the gold price at that
time, with a time horizon of January 2021:
Term of office is
characterized by Growth Monetary policy
normalization
Gold price
in USD
Scenario A:
Genuine Boom
Real growth
> 3% p.a.
Successful;
Real interest rate level >1.5 700-1,000
Scenario B:
Muddling Through
Growth & Inflation
1.5-3% p.a.
not completed 1,000-1,400
Scenario C:
Inflationary Boom
Growth & Inflation
> 3% p.a. not completed 1,400-2,300
Scenario D:
Adverse Scenario
Growth / Contraction
<1.5%
Normalization paused or
renewed easing 1,800-5,000
Source: Incrementum AG
wat een voorspelling, tussen 700 en 5000. Mooi rapport maar geen nut voor investeringsbeslissing.