Wow, an ounce of gold his $2236 USD today, the highest price ever seen. But it's still well below the inflation-adjusted high of $2679 in 2011 when the price was $1921, or of $3323 in 1980 when the price was $873. This is a major indicator that even at the highest price in history, gold is likely still very undervalued and has a lot of upside potential. That's to say nothing of the fundamentals for gold, which are stronger now than they've ever been, as the world heads into war, economic collapse, and hyperinflation.
So the price could increase by another 1/6th from here, and it still wouldn't really be at a record high when inflation is taken into account.
I also note the US national debt is now 34.6 trillion dollars. Another trillion is created from thin air every 3 months or less. This is rapidly devaluing the US dollar.
Gold was under $1000 CAD when I recommended to anyone who would listen on YouTube, as well as my friends and family, that they buy gold. Today it's over $3000 CAD and likely to hit $5000 soon.
The gold to silver ratio is currently 90, another indicator that we're nowhere near a top in precious metals. It will drop below 40, and likely even below 20, at the peak of the coming bull market. Gold's going to go up from here, but silver's going to go up a lot.
So gold is at a record high price, but there are many things screaming to us that it's going a lot higher.
Keep on stacking!
DRutter
Wow that is huge! Good for those who are investing gold.
It will be interesting to see what happens this week. More new highs perhaps? We're in uncharted territory now, and the USDollar is being inflated away to nothingness in real time.
Congrats to all the gold stackers!
Hi @drutter, great news! Your content was selected by curators @nalexadre, @ten-years-before to receive a special curation from BeBlurt 🎉 Don't hesitate to upvote this comment as the curators will receive 80% of the rewards for their involvement.
👉 What can you expect for 2024 on Blurt?
Win 85% rewards with myDelegation