Why Gold Will Continue To Shine In 2025 And Beyond

Summary

• Gold’s strong performance over the last two years must be seen as an acceleration in the deleveraging of the global financial system.
• Last time the U.S. gold-to-broad-money ratio dipped below 2.5% was in 2022, and gold has been going up strongly since.
• Gold’s share of total reserves is sharply going up. According to my estimates - that include unreported purchases by central banks - gold’s percentage of total reserves reached 21% in Q3 of 2024.
• I expect the price of gold to complete this bull market until it reaches $8,000 an ounce, give or take, and reset the pyramid - which would be only natural.

LeoPatrizi

Gold’s strong performance over the last two years must be seen as an acceleration in the deleveraging of the global financial system. After many decades of inordinate credit creation - leading to excessive debt levels, asset bubbles, and too much monetary interdependence between