Daily Market Update

Pandemic, Economic Shutdowns, Debt Crisis and Gold At $5,000/oz


◆ GoldCore are delighted to publish the 14th edition of the annual “In Gold We Trust” report, “The Dawning of a Golden Decade” by by our friends Ronald-Peter Stoeferle & Mark J. Valek of Incrementum AG.

Gold prices should rise to over $5,000/oz and may rise as high as $9,000/oz in the coming decade and by 2030, according to the respected report.

Gold is “on everyone’s lips again” and “we are now in a new phase of the bull market”.

The question that now occupies every gold-interested person is, how does the Covid-19 pandemic affect the price of gold? The authors take a deep dive into this question, as well as a whole spectrum of other topics.

Source: In Gold We Trust 2020 via Incrementum AG


The following topics are covered in the In Gold We Trust report 2020:

Review of the most important events in the gold market in recent months

An analysis of the impact of the Covid-19 crisis on the price of gold

The increasing importance of gold in times of de-dollarization

Silver – ready to fly high?

Gold and cryptocurrencies

Gold mining stocks: The bull market has started

Outlook for the gold pric in this decade: A gold price of around USD 4,800 suggested by our quantitative model, even with a conservative calibration of the parameters.

Guest contributions by
– Luke Gromen (FFTT LLC): “A Deep Dive into the Geopolitics of Oil, Gold, and Money”
– Terry Heymann (World Gold Council): “An Overview on Gold Mining Companies’ ESG Efforts”

In Gold We Trust (2020) report can be downloaded at the following links:
Extended Version (350 pages)
Compact Version (100 pages)




NEWS and COMMENTARY

Gold dips to 2-week low on growing recovery hopes

Gold hovers near 2-week low on hopes of economic recovery

Spain is deploying a basic income to citizens (2.5 million citizens / 1,108 euros per month)

World economic prospects darken, rebound delayed

Euro rallies on EU recovery fund proposals, yuan falls

Scotiabank sets aside $168 million for metals closure and investigations



Watch and Read Other Key Points From Interview Here



GOLD PRICES (USD, GBP & EUR – AM/ PM LBMA Fix)

27-May-20 1705.15 1694.60, 1385.95 1382.12 & 1552.71 1541.92
26-May-20 1722.75 1720.25, 1399.22 1393.57 & 1571.32 1566.63

22-May-20 1732.45 1733.55, 1421.99 1423.59 & 1588.83 1590.71
21-May-20 1732.80 1724.90, 1417.78 1410.45 & 1580.49 1571.04
19-May-20 1735.25 1737.95, 1416.14 1418.34 & 1584.11 1589.01
15-May-20 1734.85 1735.35, 1422.06 1427.67 & 1604.39 1602.60
14-May-20 1716.40 1731.60, 1403.67 1420.09 & 1587.84 1603.98
13-May-20 1699.85 1708.40, 1383.85 1394.74 & 1568.11 1573.09
12-May-20 1703.45 1702.40, 1381.84 1379.80 & 1574.50 1565.87
11-May-20 1698.80 1702.75, 1375.35 1378.55 & 1570.20 1571.81
07-May-20 1688.65 1704.05, 1366.29 1387.78 & 1565.21 1582.38
06-May-20 1698.90 1691.50, 1373.56 1366.73 & 1574.71 1564.13
05-May-20 1696.30 1699.55, 1363.83 1363.72 & 1566.36 1562.91
04-May-20 1703.70 1709.10, 1371.14 1374.63 & 1558.72 1563.83



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NOTE: Inbound deliveries to our Loomis and Brink’s vaults in Zurich, Singapore, London and Dublin have resumed and to ensure liquidity, investors can move their assets to our vaults from safe deposit box companies, bullion stored with banks or digital gold platforms or ETFs. Please email us for shipping instructions to vaults: support@goldcore.com



Mark O'Byrne
Executive Director

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