Consevative price target 75 cents to $1.04 approx, page-26

@david25


One out of your seven statements are correct. Not a great strike rate.

1. Yes, gold is an inflation hedge, it is also a crisis hedge and a safe haven.
2. In a recession gold price typically outperforms almost every other investment class due to its safe haven appeal.
3. See above.
4. Completely wrong 2011 rise was based around sovereign risk, toxic corporate debt and loose monetary policies. Crisis hedging and safe haven buying made gold a standout investment during 2020, not inflation.
5. Gold historically performs exceptionally well during stagflationary periods (high inflation, low growth).
6. The thing with sky high debt levels along with large fiscal deficits is you actually need more money to keep the Fiat Ponzi scheme going, not less!
7. The first statement that made sense, yes high cost miners can still struggle in a high inflationary environment. If oil and wages rise quicker than the gold price then margins can indeed evaporate. RMS is a low-cost producer David hence plenty of safety margin.