In 1857, the gold was worth about $2 million. With gold over $5,000 an ounce, the melt value alone would be somewhere in the neighborhood of $2.2 billion.
Keep in mind that gold went from $1,000 to $700 in 2008 as the markets were unraveling, before hitting $1,900 a few years later. And I think we’re in a similar situation now...
The relentless monthly budget deficits keep pushing the national debt higher. After eclipsing $38 trillion in October, it has ballooned to $38.9 trillion today.
The economy is falling, and the best the government can do is pretend to try to end up somewhere closer to the truth after buying itself a long delay away from admitting the truth.
If you were expecting the gold and silver prices to rise following the outbreak and then escalation of the Iran war, obviously, that has not been the case over the past two weeks.
According to the SCMP, this isn’t nearly as strange as it probably sounds to you. During the Tang dynasty (618-907), farmers regularly collected gold particles from the feces of ducks and geese.
Unless the war with Iran ends soon, stagflation will soon be stalking global economies. Stagflation is bad for stocks, bonds, consumers and manufacturers. The only thing that it’s good for, history has shown, is gold.
The structural drivers (central-bank buying, monetary instability, and declining real yields) remain strongly supportive of the gold bull market. A reasonable expectation for 2026 is...
Gold performs a role within reserve portfolios that few other assets can replicate. The majority of official reserves consist of foreign currencies and government bonds, both of which represent claims on other states. Their value ultimately depends on..
