2024年7月月度黄金指南针（英）

MonthlyGoldCompass July2024 Ronald-PeterStöferle MarkJ.Valek InOurPartnersWeTrust AbluesquarewithwhitetextDescriptionautomaticallygenerated ForInformationonOurPremiumPartners:ClickHere!2 TableofContents: 1.Gold 2.Silver 3.Miner 4.Macro 5.LongTermCharts6.ProprietaryModels 3 1.Gold “Iviewgoldastheprimaryglobalcurrency.Itistheonlycurrency,alongwithsilver,thatdoesnotrequirea counterpartysignature.” AlanGreenspan 4 GoldPerformanceinMajorCurrencies,2000–2024YTD Year USD EUR GBP AUD CAD CNY JPY CHF INR Average 2000 -5.3% 1.2% 2.0% 11.3% -1.9% -5.4% 5.8% -4.2% 1.4% 0.6% 2001 2.4% 8.3% 5.3% 11.4% 8.8% 2.4% 18.0% 5.5% 5.8% 7.6% 2002 24.4% 5.6% 12.2% 13.3% 22.9% 24.4% 12.2% 3.5% 23.7% 15.8% 2003 19.6% -0.2% 8.0% -10.7% -1.3% 19.6% 8.1% 7.4% 13.9% 7.2% 2004 5.6% -1.9% -1.7% 1.5% -2.0% 5.6% 0.8% -3.1% 0.1% 0.5% 2005 18.1% 35.1% 31.6% 25.9% 14.1% 15.1% 35.9% 36.3% 22.8% 26.1% 2006 23.0% 10.4% 8.1% 14.3% 23.3% 19.0% 24.2% 14.1% 20.7% 17.5% 2007 30.9% 18.5% 29.2% 18.0% 12.0% 22.5% 22.5% 21.8% 16.9% 21.4% 2008 5.4% 10.0% 43.1% 30.5% 28.7% -1.5% -14.2% -0.8% 30.0% 14.6% 2009 24.8% 21.8% 12.9% -1.6% 7.9% 24.8% 27.9% 21.1% 19.2% 17.6% 2010 29.5% 38.6% 34.2% 13.6% 22.8% 25.1% 13.2% 16.8% 24.8% 24.3% 2011 10.2% 13.9% 10.6% 10.3% 12.7% 5.2% 4.5% 10.7% 30.7% 12.1% 2012 7.1% 5.0% 2.5% 5.3% 4.2% 6.0% 20.7% 4.5% 11.1% 7.4% 2013 -28.0% -30.9% -29.4% -16.1% -23.0% -30.1% -12.6% -29.8% -19.1% -24.3% 2014 -1.8% 11.6% 4.4% 7.3% 7.5% 0.7% 11.6% 9.4% 0.2% 5.6% 2015 -10.4% -0.1% -5.3% 0.6% 6.8% -6.2% -9.9% -9.7% -5.9% -4.5% 2016 8.5% 12.1% 29.6% 9.6% 5.3% 16.1% 5.4% 10.3% 11.4% 12.0% 2017 13.1% -0.9% 3.3% 4.6% 5.9% 6.0% 9.0% 8.3% 6.3% 6.2% 2018 -1.5% 3.0% 4.3% 8.9% 6.8% 4.1% -4.2% -0.8% 7.3% 3.1% 2019 18.3% 21.0% 13.7% 18.8% 12.6% 19.7% 17.2% 16.6% 21.3% 17.7% 2020 25.0% 14.8% 21.3% 14.1% 22.6% 17.2% 18.8% 14.3% 28.0% 19.6% 2021 -3.6% 3.6% -2.6% 2.2% -4.3% -6.1% 7.5% -0.6% -1.7% -0.6% 2022 -0.2% 6.0% 11.6% 6.3% 7.0% 8.3% 13.7% 1.1% 10.8% 7.2% 2023 13.1% 9.7% 7.4% 13.1% 10.5% 16.3% 21.6% 2.9% 13.7% 12.0% 2024YTD 12.8% 16.1% 13.5% 15.2% 16.4% 15.4% 28.6% 20.4% 13.0% 16.8% CAGR 8.9% 8.6% 10.0% 8.8% 8.7% 8.3% 10.9% 6.4% 11.8% 9.2% Source:ReutersEikon(asof06/30/2024),IncrementumAG Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2000 9.01% 8.91% 9.14% 9.27% 9.32% 9.07% 9.30% 9.33% 9.42% 9.62% 9.56% 9.56% 2001 9.71% 9.72% 9.92% 9.85% 9.85% 9.80% 9.91% 9.82% 9.54% 9.80% 9.93% 9.89% 2002 9.87% 9.66% 9.60% 9.55% 9.30% 9.52% 9.74% 9.63% 9.49% 9.63% 9.64% 9.26% 2003 8.99% 9.29% 9.51% 9.52% 9.19% 9.50% 9.41% 9.15% 9.05% 9.11% 8.96% 8.77% 2004 8.98% 9.10% 8.74% 9.30% 9.23% 9.28% 9.37% 9.15% 9.08% 8.99% 8.74% 8.94% 2005 9.18% 9.06% 9.19% 9.15% 9.42% 9.22% 9.34% 9.31% 8.92% 9.01% 8.70% 8.47% 2006 7.95%8.06%7.87% 7.23%7.37%7.69%7.52%7.63%7.95%7.91%7.54%7.69% 20077.57%7.45%7.55%7.44%7.65%7.80%7.70% 7.65%7.04%6.65%6.79%6.42% 20085.78%5.49%5.91%6.27%6.18%5.94%6.05% 6.73%6.44% 7.74% 6.96%6.48% 2009 6.15%6.06%6.29%6.57%5.90%6.33%6.16%6.22%5.84%5.61% 4.77%5.33% 2010 5.46% 5.26% 5.31% 4.92% 4.71% 4.59% 4.99% 4.62% 4.27% 4.01% 3.89% 3.73% 2011 4.24% 3.82% 3.74% 3.06% 3.24% 3.43% 2.81% 1.91% 2.86% 2.44% 2.31% 3.23% 2012 2.37% 2.60% 2.75% 2.79% 3.37% 3.18% 3.12% 2.73% 2.35% 2.62% 2.67% 2.90% 2013 2.98% 3.47% 3.40% 4.15% 4.78% 5.94% 5.31% 4.83% 5.36% 5.43% 6.03% 6.46% 2014 6.20% 5.59% 5.97% 5.96% 6.35% 5.77% 6.19% 6.20% 6.94% 7.33% 7.46% 7.37% 2015 6.52% 7.23% 7.58% 7.64% 7.66% 7.91% 8.81% 8.47% 8.77% 8.55% 9.54% 9.67% 2016 9.10% 7.86% 8.01% 7.45% 8.37% 7.32% 7.11% 7.62% 7.63% 8.13% 9.45% 9.83% 2017 9.20% 8.85% 8.96% 8.84% 8.94% 9.39% 9.15% 8.62% 9.26% 9.48% 9.57% 9.33% 2018 8.91% 9.39% 9.43% 9.69% 10.06% 10.87% 11.47% 12.00% 12.33% 12.15% 12.22% 11.43% 2019 11.01% 11.32% 11.85% 12.20% 12.03% 10.54% 10.66% 9.20% 10.11% 9.65% 10.63% 9.96% 2020 8.99% 9.26% 9.67% 8.12% 7.57% 6.90% 4.27% 4.43% 5.76% 6.01% 7.80% 6.00% 2021 6.99% 9.22% 9.98% 9.03% 6.66% 9.53% 8.90% 9.18% 10.74% 10.48% 11.06% 10.10% 2022 11.28% 8.86% 8.46% 9.88% 11.99% 13.45% 15.47% 18.24% 21.26% 23.63% 18.89% 17.57% 2023 14.16% 19.84% 14.30% 14.31% 16.98% 21.16% 90Day 30Day TradingDays DXY GDX S&P500 VIX CRBTR WTI Copper Bitcoin 15D -0.48 0.92 0.01 0.43 0.53 0.41 0.79 0.04 30D -0.48 0.90 0.25 0.03 0.56 0.40 0.79 0.23 60D -0.40 0.84 0.25 -0.01 0.35 0.17 0.60 0.09 90D -0.41 0.83 0.18 0.04 0.31 0.16 0.54 0.15 120D -0.41 0.82 0.18 -0.04 0.28 0.14 0.49 0.10 150D -0.48 0.82 0.24 -0.01 0.25 0.12 0.48 0.09 180D -0.40 0.80 0.11 0.13 0.28 0.18 0.43 0.04 52WeekHigh -0.03 0.92 0.60 0.77 0.70 0.71 0.83 0.37 Date 11/13/2023 6/20/2024 8/11/2023 11/20/2023 11/9/2023 11/8/2023 6/26/2024 3/28/2024 52WeekLow -0.74 0.59 -0.45 -0.55 -0.17 -0.29 -0.05 -0.54 Date 1/5/2024 11/27/2023 11/27/2023 8/3/2023 2/29/2024 9/27/2023 2/12/2024 12/8/2023 %Time(+) 0% 100% 83% 39% 89% 75% 98% 55% %Time(-) 100% 0% 17% 61% 11% 25% 2% 45% 52WeekHigh -0.31 0.84 0.42 0.32 0.48 0.40 0.56 0.32 Date 11/21/2023 4/12/2024 10/12/2023 6/30/2023 10/27/2023 11/9/2023 6/25/2024 7/20/2023 52WeekLow -0.61 0.73 -0.36 -0.34 -0.05 -0.11