Gold “could easily go to $5,000, $10,000 in environments like this. This is one of the few times in my life it’s semi-rational to have some in your portfolio.”

With no obvious major seller in sight, the primary bull trend in gold is likely to stay intact for now, although a correction is likely while the metal is very overbought.

A technical indicator points to the possibility that the gold rally of September- October may have peaked in trendiness.

“There is no liquidity available currently...”

“Whenever the spot premium aligns with the import parity price, the fund-of-fund will open for subscription,”

Gold is the lie detector for a broken financial system...

"...the move is so extreme, it's hard to visualize on a chart..."

A “perfect storm” of inflation, debt, geopolitical tension, and investor doubt is propelling gold higher - and faster - than ever before...

"...this basically will lead to a currency death spiral.  That’s where we are right now..."

...a shortage of freely available silver in the key London market has supported prices, while also pushing up the cost of borrowing the metal sharply.

"...we're seeing substantial asset inflation away from the dollar as people are looking for ways to effectively de-risk their portfolios vis-a-vis US sovereign risk."

With silver rallying strongly and rising more than 50% since the start of the year, a growing number of investors are starting to worry that a crash may be coming, similar to what happened after the major spikes in 1980 and 2011.

The gold is not changing.  Gold is gold.  What is changing is the amount of dollars it takes to buy that ounce..."

Fed easing bias and upside risks to inflation breakevens are the most important bullish drivers for gold...

...just like a QE but without the actual QE.

China leads global gold production with 380 tonnes in 2024, maintaining its top spot despite only an 8% increase since 2010...

...in regime shifts, as we are in now, extreme moves can persist longer than logical analysis would dictate.

“China’s trying to become a bigger and more influential part of the financial infrastructure,”

...the systemic, mathematical and historical “arcs” of this dying economic/financial/social sphere are becoming easier for all of us to both feel and see.

No other physical commodity comes close to gold’s low supply growth rate and resistance to debasement...