The Rising Influence of Rising Affluence

[Bluewingcap]

Interesting that Gold is getting little love from investors as we hit all time highs.

ETF outflows are offset by increased Central Bank purchases and physical OTC market. With an emerging India, jewelry demand there is expected to rebound sharply. Add in a possible weakening dollar and geopolitical turmoil and the cake is baked. $2,600/Oz looks like a good target.
2024 Gold demand

My GROY holding now trades at ~0.68X asset value with cash flow catalysts pending. The comp group trades at 1.1X right now. While I expect some consolidation of physical gold prices and GROY stock price around this $2 level, I like the risk/reward.