Gold’s Price Rise and Debt
Gold’s price rise reflects concerns that world bankers, international monetary authorities (and you and I) should know. Everyone in the know understands this is unsustainable. The populous is told everything is fine and just continue to put your trust in the central banks.
Debt is very, very easy to create with fiat currency. However, the more debt you make, the less valuable is the previous debt you created. You can not randomly create gold. It only inflates at about 1.8% per year. World governments know this, hence their increased gold holdings.
Not only is debt growing but, of course, the interest due on that debt continues to grow. Tell me, is this sustainable?
Gold price will continue to rise and do very well for the balance of 2024 and into 2025. We could see $3,000 this year and probably $3,500 to $4,000 next year. Silver should ride its coattails and maybe outperform.
Finally, I know that the gold price seems high. I have been at this for 30 years. It has always seemed high, and it’s going higher. Dollar-cost averaging in modest amounts on a consistent basis is, and always has been, the best approach.
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