The last few years have been rather average for gold investors. The gold price tanked in 2013 and ever since the gold price has been mostly moving sideways, fluctuating between €950 and €1100 per troy ounce. Valuing a company is tough, but the basic valuation principles are crystal clear: you value a company by taking the present value of all its future (net) cash flows. The principles of valuation are equally clear in the case of everyday commodities, such as wheat and crude oil, for which

Is structural inflation likely in the future? Is a more severe erosion of the value of our money than, let’s say, has been the case over the past 30 years likely? These are two important questions for anyone who asks himself/herself whether his/her capital should be protected against (high) inflation's voracious appetite.

The day finally arrived. After ECB Chair Mario Draghi already postponed an earlier meeting out of fear, I speculate, to become subject of fierce election campaigns, the Italian finally found his way to The Hague and finally took time to answer questions of a group of Dutch members of parliament (PMs). After all, Draghi’s meeting was initially scheduled in February, when the election battle heated up. With great pleasure of the author, Draghi was given a hard time by most MPs during his visit. What can we say about Draghi’s answers to the questions of the Dutch MPs?