Central banks expect the price of gold to soar 32% by June of 2027.
US Stock Market Bubble Unprecedented
July 7 (King World News) – The Kobeissi Letter: The US stock market has never been more dominant:
US stock market capitalization is up to a record ~$81 trillion, now accounting for ~48% of global market cap.
This exceeds the world’s 2nd largest stock market, China, at $17 trillion, by 375%.
The US stock market is now twice as large as that of China, Japan, Hong Kong, and Taiwan combined.
It is also larger than the next 18 stock markets combined.
The Magnificent 7 stocks alone are now larger than China’s market value.
The current scale of the US stock market is unprecedented…
Listen to the greatest Egon von Greyerz audio interview ever
by CLICKING HERE OR ON THE IMAGE BELOW.
Gold
Peter Boockvar: I want to talk US dollar and gold again. We remain long gold, but a bit less so since January with almost no silver with intentions of buying it back at some point. Last month I pointed out the World Gold Council survey of central banks where more planned to diversify their dollar holdings and increase their holdings of gold. This was followed by last week’s release of another survey from the Official Monetary & Financial Institutions Forum. It said this of note:
“The dollar continues to dominate portfolios and is still viewed as unmatched for safety and liquidity. But central banks increasingly expect to reduce dollar allocations over both the short and long term, especially in emerging markets. For the first time since the GPI series (Global Public Investor) began recording reserve managers’ long-term intentions in 2023, more central banks plan to decrease their dollar holdings than increase over the next 10 years.
The euro and renminbi remain the main alternatives, while interest in smaller developed and emerging market currencies is rising. This year, 29% of respondents plan to increase euro holdings in the long term, up from 22% last year. However, neither the euro nor the renminbi fully solves reserve managers’ problem: the former lacks a single, deep safe asset market, while the latter remains constrained by market structure and geopolitical concerns.”
“Gold has become the clearest beneficiary of this uncertainty. It leads short-term buying intentions and has moved to the centre of reserve strategies as a hedge against geopolitical risk and concerns about the international monetary system. In 2026, 82% of central banks hold physical gold, up from 71% last year. A net 30% plan to increase their gold allocation over the next one to two years, while 61% expect the price to settle between $5,000 and $6,000 per ounce by June 2027. Only 28% say the current price is discouraging further purchases. The motivation behind gold purchases is increasingly strategic rather than purely financial. Protection against geopolitical risk is cited by 51% of respondents, up 11% from 2024.”
“Over the next 10 years, do you anticipate increasing, decreasing or maintaining your exposure to the following currencies? Share of respondents, %”
https://www.omfif.org/2026/06/central-banks-are-riding-the-wave-of-persistent-volatility/
China reported its June reserve data and they keep buying gold. They now hold (that they report) 75.44 million troy ounces, or about 2,350 tons, as they continue to reduce their holdings of US Treasuries.
Gold & Silver
To listen to James Turk discuss what he expects next for gold, silver, the mining stocks and more CLICK HERE OR ON THE IMAGE BELOW.
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