Rick believes the US dollar could lose around 75% of its purchasing power over the next decade. If that happens, he says a five-digit gold price seems reasonable.
Last year, mines globally produced 3,672 tonnes of gold, according to the World Gold Council. It was a new record, but only about 11 tonnes higher than the 2025 total.
Private loans total around $1.4 trillion, representing roughly 10 percent of debt held by non-financial corporations in the U.S., according to Federal Reserve data.
Chinese investors were key drivers of the gold bull market last year, as Western investors generally sat out the rally until the end of the year. Despite gold trading sideways in the second quarter after its big price correction in the first, Chinese physical gold investment demand remained robust.
When the SS Central America was discovered on the ocean floor more than a century later, part of its gold was recovered. Much to the media’s surprise, its value had survived remarkably well.
