Spot gold edged higher on Friday September 26th, trading at $3,758.55 per ounce, marking a increase of $10.87. Silver also is trading higher at $45.51 per ounce, up $0.32. Gold remains up over 43% and silver up nearly 57% from the beginning of the year, highlighting the resilience of physical precious metals in the current environment. The latest economic data remain pivotal to market sentiment—U.S. GDP growth was revised higher to 3.8% annualized for Q2, while jobless claims fell unexpectedly, signaling ongoing labor market strength. These factors have dampened market expectations for imminent rate cuts from the Federal Reserve, supporting a firm dollar and tempering near-term upside in metals prices.
A recent article titled “Gold Isn’t Going Up, Your Money Is Just Losing Value” brings a fresh perspective to the current bull market in gold. The author contends that the nominal rise in gold’s price since 2007—an increase of 450% in major currencies, and as much as 748% in British pounds—is less a story of gold appreciating and more a reflection of fiat currencies rapidly losing purchasing power. The article uses compelling long-term data and charts to illustrate how global currencies have lost about 85% of their purchasing power against gold, with the Swiss franc declining by 73% and the pound by a staggering 88%. It argues that gold’s enduring role as a reliable monetary yardstick is rooted in thousands of years of history, making it a clear measure for the value erosion caused by flaws and inflation in the fiat money system. As faith in paper currencies wanes, ordinary savers and investors continue to turn to gold as a hedge, and the author suggests this monetary shift is still in its early stages.
