In a Silver Bullion article, Willem Middelkoop calls gold's rise "an unremarkable but profound shift." He believes the change in gold's status in the monetary system is due to several developments. Consider the U.S. sanctions against Russia, the freezing of Russian dollar reserves. Non-Western countries have become aware of the risks when their national interests do not align with those of the Americans. In addition, further rising gold prices are to be expected due to the significant losses of bondholders from Fed rate hikes. Balance sheet losses at central banks may be offset with a revaluation of gold to avoid bailouts, however, this will potentially undermine confidence in national currencies and encourage emerging markets to switch from fiduciary (trust-based) currencies to gold.
Willem Middelkoop shares his thoughts on the junior mining sector in 2024 and says it could be a year of recovery, after the frustrations of 2023.
On Tuesday, May 14, 2024, the fund will organize the CDFund Discovery Day and annual participants meeting at Bimhuis in Amsterdam. Participants will receive an invitation by mail.
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