The price of gold bullion has never been higher in almost every currency on Earth! In the almighty US Dollar, gold is poised to break through the $2000 resistance level on the way to $3000/oz and beyond. Here's a look at the gold chart going back 24 years, a rise of almost 10x:
This is the fourth time gold has tried to break through $2000 USD. As we can see with this monthly chart, gold is now putting in candles over the 2000 level, and a breakout appears imminent.
Sadly, the slaughter in Gaza has resumed after a short pause, so the chance of a broader conflict (regional or world war) is still very high. This generally pushes people toward safety (such as gold). And the world's central banks have doubled (or quintupled?) down on their currency printing from thin air, which eventually will be reflected in the gold price. Not to mention, debt levels are at unprecedented highs, and inflation is through the roof.
These factors, in addition to the extremely-bullish chart patterns, tell me physical gold (coins, bars, rounds, jewelry, etc) is going to become increasingly harder to find, and higher priced.
Yes, it's at an all-time high, but it still might be an incredible time to add to your stack. Gold and silver are real money with a 5000+ year track record of holding value through wars, economic collapses, and societal unrest. It even works when the power's out. Whatever's coming, gold will have value.
DRutter
