This Is Why Analysts Are Now Predicting $10,000-$20,000 Gold

This is why analysts are now predicting $10,000-$20,000 gold.

August 24 (King World News) – Jonathan Haycock, partner at VON GREYERZ:  So, there we have it. We now know where the tipping point is. Circa 4.7% on the US 10yr.

Time again, when that level is reached, the US Treasury is forced to act.

Consistently rising government bond yields signal that there simply isn’t enough demand for US debt at prevailing yields. Perhaps $40 trillion is the magic number.

The size of Bessent’s intervention this week to buy back longer dated bonds is of course a “drop in the ocean”, but the signal it gave couldn’t be clearer.

The dollar resumed it’s fall and gold and silver ripped. Exactly as you’d expect.

But nobody can say this hasn’t been coming. The first real signal was the intervention in supporting the yen. And now in bonds.

Markets understand that this is just the beginning. They know only too well that Bessent ‘gonna need that bigger boat’. 

The toothpaste is now well and truly out of the tube and it ain’t going back…

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Gold & Silver Now Clearly Resuming Their Uptrend
Precious metals are clearly now resuming their uptrend. 

Technically, breaking back above the 200 day moving average will be important for many. 

The correction in the 1st half of this year was just a normal (albeit sharp) correction in a secular bull market that washed out many weak hands.

But what was noticeable during the weakness was that China never stopped stacking. In fact in the last 2 months alone China bought more gold than the entirety of the UK gold reserves!

And Central Banks are buying roughly a 1/3 of all new supply. So, it’s no mystery to them how all this is all unfolding. 

It’s tempting to listen to all the noise that gold is now going up because of this or that.

But the simple explanation is that gold is in a secular bull market due to the debt explosion and the ongoing debasement of Fiat currencies. It’s that simple. Nothing has really changed.

All the explanations about the Fed, interest rates etc, etc are just catalysts and not the cause of the rise in the metals.

So owners of gold/silver will enjoy material strength whilst the dollar continues to decline for many years to come with the normal volatility.

The problem is nobody owns enough gold.

At VON GREYERZ, we have consistently told clients that they should allocate at least 20% to gold.

Ray Dalio says 15%.

I had the pleasure of having lunch last week with my first mentor at Salomon Brothers back in the late 90’s. I’m forever grateful for how much he taught me. He had the patience of a saint.

The poor guy even had to point out to me that EBITDA was an acronym and not some odd word I hadn’t come across before!

Anyway, over lunch he reminded me that when he started his City career at the once prominent stockbroking firm Grieveson Grant back in 1983, all clients were advised to hold 55% in equities, 35% in bonds and 10% in gold. 

It was totally normal to have a double digit allocation to the yellow metal back then.

Which leads me to the staggeringly low gold ownership statistics today, just at the point when it’s clearly the required hedge against the ongoing decline of purchasing power via debased currencies.

Consider the following simple maths (with thanks to my friend Matt Holland for flagging the numbers on X)

Global Private Wealth is estimated to be $350 trillion.

The estimated investment in gold is 2% (though that feels generous to me).

Let’s assume 2% goes to just 3% (forget 15-20% for a second)

That 1%age point shift would imply $3.5 trillion has to move into gold.

But annual supply of gold is roughly 3500 tonnes valued today at $0.5 trillion.

So, in order for gold to move from just 2% to 3% of global private wealth, it would take 7 years of annual mine supply to satisfy that demand.

When considered this way, it’s little wonder commentators are starting to talk about $10,000, $15,000 and $20,000 gold as entirely plausible in the coming years.

Luckily, if you feel you don’t have enough, VON GREYERZ can help. This will link you directly to more fantastic articles from Jonathan Haycock, Egon von Greyerz, Matthew Piepenburg, Alasdair Macleod CLICK HERE.

Financial Legend Rob Arnott Just Warned The US Government
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