by Alberto Migliucci
Hello investors, colleagues and gold bugs,
I am pleased to be the founding sponsor the Asia Gold Conference during a time of record gold prices. The yellow metal has surged by 29% this year, consistently setting new records.
Where’s the Smart Money?
Gold has set multiple records this year and has outperformed a strong stock market, maintaining its status as a favoured hedge during geopolitical and economic uncertainty. Gold hit another record high on September 24, reaching USD 2,670/oz amid ongoing growth concerns, geopolitical tensions, and a weakening US dollar alongside falling 10-year US bond yields.
Silver's Rise: Silver has seen a 29% increase in 2023, similar to gold's performance, but it remains underpriced compared to gold historically.
An report by UBS anticipates silver to outperform gold over the next 12 months, predicting the gold-silver ratio will narrow from its current 84:1 to the 60s.
We are seeing supportive market conditions with both gold and silver are benefiting from Federal Reserve policy shifts, geopolitical uncertainties, and increasing central bank diversification from USD. With the expected beginning of the Fed's easing cycle, the World Gold Council highlights that gold has historically increased by as much as 10% within six months following the first Fed rate cut. This, combined with the approaching US elections creating uncertainty and a rise in ETF demand, will make the gold space and interesting place to be.
Silver demand has exceeded supply for three consecutive years, with falling inventories supporting higher prices, further boosted by industrial use and investor interest.
Join me and many other leading experts as we discuss where the opportunities lie in the precious metals space. Whether it's in gold exploration, ETFs, bullion, silver or other PM -backed ventures, it will all be covered at the Asia Gold Conference.
Petra Commodities Asia specialises in natural resources with access to capital and deep relationships with Asia’s HNWI’s and family offices. It will be a major sponsor at the Asian Gold Conference in Singapore, its natural home.
Stay tuned for more updates on this site!
Alberto Migliucci
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