GRAPHS: Gold's ever shrinking role in world financial system

But the authors also show that relatively speaking gold and silver share of global financial assets is rapidly diminishing.

"Comparing the market capitalization of gold and silver with that of other asset classes, it becomes clear how underrepresented the precious metals sector is" says Incrementum:

Considering the market capitalization of the 16 largest unhedged gold producers, the Gold Bug Index, versus other equities "shows a similar valuation discrepancy"

A historical comparison between the value of the global stock of gold and US financial assets also confirms this assumption says Incrementum.

The value of all the gold ever mined – roughly 180,000 tonnes – amount to only 3.3% of the value of all outstanding US financial assets. That compares to nearly 20% in 1934 and an even higher proportion in 1982.