Monthly Gold Compass June 2023 (Incrementum)

• Incrementum… Jun 2023|

• 95 Pages

This month, we feature the Incrementum Recession Phase Model. We look at the different phases of a recession and the performance of various assets in every phase. Spoiler alert: gold performs exceptionally well during a recession. (slide 72-76). Total US public debt continues to rise like clockwork and is set to reach USD 32 trillion soon. The Federal debt/GDP ratio is 120%, according to usdebtclock.org. (slide 61). Our Inflation Heat Maps for Developed Markets, Emerging Markets and the US provide an excellent overview of inflation trends. Despite observing significant declines in inflation rates in Q1 2023, a detailed analysis of the data reveals that inflation figures now remain stagnant at (still) elevated levels. (Slides 39, 40 and 41).