Good Morning!

This bull market in Gold & Silver is just getting started. It is going to run for many years, and you can scroll down to see why. Just wait until the secular bull in stocks ends. 

In the short to medium term we continue to target $3000 Gold and $38 Silver. For GDXJ we are looking at $60-$61.

Interview with Calibre Mining

Last week we interviewed Ryan King, who is part of Calibre Mining's management team.

The interview is 30 minutes long and divided into chapters so you can click around.

My opinion: The most important parts are 10 mins to 17 mins and 24 mins to 28 minutes.

Total Real Return for 60/40 Portfolio

This chart shows the performance of the 60/40 portfolio, total return adjusted for inflation since 1900.

The inflationary secular bear markets (1906-1921 and 1968-1982) are far worse than the others (2000-2011 and 1929-1942).

The inflationary bear markets performed worse because of the impact of a secular bear market in Bonds.

Look at the end of the 1906-1921 and 1968-1982 periods. The portfolio below was still way off the peaks of 1906 and 1968. 

However, look how quickly the other two bear markets, in comparison, were able to recover their losses.

S&P 500 Total Real Return

Here is my chart plotting Gold, the total return of the S&P 500, the Consumer Price Index and the 20-year rolling return of the S&P 500. 

The real total return measures the S&P 500 plus dividends divided by inflation.

The S&P 500 here made no progress from 1961 to 1982 and 1965 to 1982.

The real return over 20-years if you bought at the very end of 1950s into the mid 1960s was close to 0.

The 2000-2011 bear had two 50% declines but the 1968-1982 period was worse because of inflation. 

In TheDailyGold Premium...

TDG #906 included updated commentary and analysis (~500 words) on four different companies.

Three are in our Top 10 and the other is on our watch list.

Some junior developers and producers have made huge moves over the last year. A few weeks ago we noted a few that could be the future winners from that group.

In TDG #906 we noted the watch list company as also having that potential. It has one slight flaw. But if the Gold bull market continues and that flaw does not bite the company, it has 10-bagger potential over the next 3 years. 

I am scouring the junior universe to find future Top 10 Companies and other companies that are undervalued with 5x to 10x potential. 

Thank you for reading.

I wish you all the best in 2024 and beyond.