$10,000 Gold Per Ounce? Prepare for the BIGGEST Gold & Silver Price Rally in 50 Years - John Rubino
In a landscape of monetary uncertainty, gold continues to assert its role as a cornerstone of financial stability. Currently trading around 2,655 dollars, the precious metal has shown resilience despite recent market fluctuations. This is supported by modest downward movements in US Treasury bond yields that have kept dollar strength in check.
Financial analyst John Rubino, founder of DollarCollapse.com, discusses the potential for a new monetary system where the US dollar is partially backed by gold, possibly driving prices to 10,000 dollars per ounce. While this target is ambitious, it highlights significant upside potential, with current prices around 2,700, offering potential gains for investors who bought even at 3,000 dollars.
Central banks have emerged as pivotal players in the gold market, demonstrating unprecedented buying activity. The statistics are striking: 1,082 tonnes were purchased in 2022, followed by 1,037 tonnes in 2023. This institutional commitment to gold appears poised to continue, with a mid-2023 survey indicating that 24% of central banks intended to expand their gold reserves within the following year.
The mechanics of the gold market add another dimension to this narrative. Rubino emphasizes that the demand for available gold is relatively thin, meaning that concentrated buying pressure could lead to outsized price movements. This dynamic becomes particularly relevant when considering the sustained interest from central banks and financial institutions.
While the 10,000-dollar price target might seem extraordinary, market observers consider a more moderate projection of 5,000 dollars by 2030 increasingly plausible, particularly when factoring in ongoing inflation trends.
Despite recent price rallies potentially affecting trade execution, central banks are expected to maintain their position as net buyers, providing consistent support for gold valuations in the coming quarters.
The combination of institutional buying, market dynamics, and potential monetary system changes creates a compelling argument for gold's continued importance in the global financial landscape.
John Rubino presents a nuanced perspective on precious metals' behavior during market downturns. Drawing from historical data, he highlights a compelling bear case for them in the near term, pointing to significant price drops during major market corrections.
The 2008 financial crisis offers a particularly instructive example of gold's complex market behavior. Though gold demonstrated impressive strength over the entire crisis period, nearly doubling from 825 to 1,650 dollars per ounce across five years, the journey wasn't uniformly upward. The crisis, which stemmed from a perfect storm of factors, including a housing bubble, risky mortgage lending practices, complex financial derivatives, and regulatory shortcomings, created unprecedented market turbulence.
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