Daily Gold Market Report | Today's top gold news and opinion

Gold Has Consistently Outperformed The S&P 2 to 1 This Century
The Coming Golden Reset

(USAGOLD – 10/4/2023) Gold is slightly up from yesterday’s close but remains flat for the week. Gold is currently trading at $1825.83, up $2.81. Silver is at $21.22, up 5 cents. In a recent interview Frank Holmes, Chief Investment Officer at U.S. Global Investors, delves into the prospective trajectory of gold prices amidst the prevailing economic landscape. He underscores the economic challenges being faced, such as significant layoffs, downturns in manufacturing, car sales, and housing. These factors collectively bolster the argument for gold as a prudent investment at this juncture. “Gold has outperformed the S&P 2 to 1 this century since governments have been practicing with the G20 modern monetary theory,” he says.

Furthermore, the interview broaches the topic of China’s growing influence and the apprehensions surrounding its rhetoric on global investments. Concluding his insights, Holmes says, “I think when rates are going to peak next quarter, and we got an election year next year and when rates start falling, gold will be $2,300.”