2024年12月月度黄金指南针

December2024 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 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 28.7% 34.2% 28.6% 34.5% 36.0% 31.3% 36.6% 34.7% 30.8% 32.8% CAGR 9.3% 9.1% 10.4% 9.3% 9.2% 8.7% 11.0% 6.8% 12.3% 9.6% Source:ReutersEikon(asof11/30/2024),IncrementumAG AnnualizedPerformanceofGold,inUSD,ifBoughtontheLastDayoftheMonthandHelduntil11/30/2024(HoldingPeriod≥1Year) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2000 9.43% 9.33% 9.57% 9.69% 9.74% 9.49% 9.73% 9.76% 9.85% 10.04% 9.99% 9.99% 2001 10.14% 10.15% 10.35% 10.28% 10.29% 10.24% 10.35% 10.25% 9.99% 10.24% 10.37% 10.33% 2002 10.31% 10.11% 10.06% 10.00% 9.76% 9.98% 10.20% 10.09% 9.96% 10.09% 10.11% 9.73% 2003 9.47% 9.77% 9.99% 10.00% 9.67% 9.98% 9.89% 9.64% 9.55% 9.60% 9.46% 9.28% 2004 9.48% 9.60% 9.25% 9.80% 9.74% 9.79% 9.88% 9.67% 9.60% 9.51% 9.27% 9.47% 2005 9.71% 9.59% 9.72% 9.68% 9.95% 9.76% 9.87% 9.85% 9.47% 9.56% 9.26% 9.03% 2006 8.52% 8.64% 8.46% 7.83% 7.96% 8.29% 8.12% 8.23% 8.55% 8.51% 8.15% 8.30% 2007 8.18% 8.07% 8.17% 8.07% 8.27% 8.42% 8.33% 8.28% 7.69% 7.30% 7.45% 7.09% 2008 6.46% 6.18% 6.59% 6.96% 6.87% 6.64% 6.75% 7.42% 7.14% 8.42% 7.65% 7.19% 2009 6.87% 6.78% 7.02% 7.30% 6.64% 7.07% 6.90% 6.97% 6.60% 6.38% 5.56% 6.11% 2010 6.24% 6.05% 6.10% 5.72% 5.53% 5.41% 5.81% 5.45% 5.12% 4.87% 4.76% 4.60% 2011 5.11% 4.70% 4.63% 3.97% 4.15% 4.35% 3.74% 2.87% 3.80% 3.40% 3.28% 4.18% 2012 3.35% 3.58% 3.73% 3.78% 4.35% 4.17% 4.12% 3.75% 3.38% 3.65% 3.71% 3.94% 2013 4.03% 4.51% 4.45% 5.19% 5.81% 6.94% 6.34% 5.88% 6.40% 6.48% 7.07% 7.50% 2014 7.25% 6.67% 7.05% 7.04% 7.43% 6.88% 7.29% 7.31% 8.04% 8.42% 8.56% 8.48% 2015 7.67% 8.36% 8.72% 8.79% 8.81% 9.06% 9.94% 9.63% 9.92% 9.73% 10.69% 10.83% 2016 10.28% 9.11% 9.26% 8.73% 9.63% 8.63% 8.44% 8.95% 8.97% 9.47% 10.75% 11.12% 2017 10.54% 10.22% 10.33% 10.23% 10.35% 10.79% 10.58% 10.09% 10.72% 10.95% 11.05% 10.84% 2018 10.46% 10.93% 10.99% 11.25% 11.63% 12.42% 13.00% 13.53% 13.86% 13.71% 13.80% 13.07% 2019 12.71% 13.02% 13.54% 13.89% 13.77% 12.40% 12.53% 11.20% 12.08% 11.68% 12.63% 12.04% 2020 11.18% 11.46% 11.89% 10.49% 10.02% 9.45% 7.06% 7.26% 8.55% 8.84% 10.54% 8.95% 2021 9.93% 12.02% 12.79% 11.99% 9.91% 12.59% 12.10% 12.43% 13.91% 13.77% 14.37% 13.62% 2022 14.76% 12.75% 12.52% 13.89% 15.85% 17.24% 19.09% 21.54% 24.18% 26.24% 22.49% 21.59% 2023 19.04% 23.77% 19.64% 19.94% 22.29% 25.68% 25.31% 28.49% 36.34% 30.87% 30.35% 90Day 30Day TradingDays CorrelationTableforGold,11/30/2024 DXY GDX S&P500 VIX CRBTR WTI Copper Bitcoin 15D 0.02 0.86 0.17 0.04 0.75 0.78 0.38 -0.09 30D -0.38 0.82 0.00 0.07 0.57 0.46 0.62 -0.17 60D -0.36 0.82 0.06 -0.01 0.46 0.34 0.58 -0.06 90D -0.33 0.82 0.21 -0.15 0.43 0.33 0.55 0.09 120D -0.33 0.81 0.20 -0.11 0.40 0.31 0.50 0.03 150D -0.39 0.84 0.24 -0.13 0.42 0.28 0.56 0.08 180D -0.36 0.82 0.22 -0.10 0.39 0.26 0.53 0.07 52WeekHigh -0.12 0.92 0.54 0.47 0.60 0.47 0.83 0.51 Date 8/22/2024 6/20/2024 1/26/2024 12/1/2023 6/13/2024 11/27/2024 6/26/2024 9/13/2024 52WeekLow -0.76 0.69 -0.24 -0.49 -0.17 -0.21 -0.05 -0.54 Date 11/19/2024 4/18/2024 11/6/2024 2/13/2024 2/29/2024 2/29/2024 2/12/2024 12/8/2023 %Time(+) 0% 100% 88% 41% 90% 82% 98% 65% %