J. #Safra Sarasin Snaps Up #Geneva Landmark

Brazilian-Swiss bank buying BNP's emblematic building in the heart of Geneva's financial district  

Banking group J. Safra Sarasin is buying a 15,000-square meter building in Geneva from BNP Paribas for

#Gold Needs to "Glow Up" says @Sprott

Clear Outperformance of #Gold since 2000 vs. $SPX, Bonds & $USD

Gold Needs to "Glow Up"

As of August 24, gold bullion¹ has gained 27.13% YTD and 39.74% YOY. Gold mining equities (SGDM)² are up 38.85% YTD and 61.54% YOY. This compares to 7.55% YTD and 11.96% YOY returns for the S&P 500 TR Index.³  Silver has posted outsized gains, climbing 49.03% YTD and 50.00% YOY.

Gold is a Mandatory Portfolio Asset

Now that gold has powered over $2,000, it's an excellent time to take stock of what has been accomplished by the monetary metal and what may lie next. As for my Gen-Z "Glow Up" reference (and more below), conversations with my 16-year-old daughter are a constant reminder that I, too, like the gold market, need some updating and modernization.   

Most importantly, in our view, it has been established as a baseline that a diversified asset portfolio must include an allocation to gold. We believe this statement is justified by the fact that gold is now the only monetary asset that is priced by a liquid-free market and not directly correlated and partially controlled by central bank (i.e., government) policies and market interventions.

Without once again judging the merits of the exceptional monetary debauchery and fiscal stimuli of 2020, and regardless of an investor's views on credit and equity market valuations or prospects for inflation, there is no other liquid asset which accomplishes what gold does in the way of portfolio insurance and purchasing power protection.