Gold has had a quiet few weeks amid heightened geopolitical tensions. The metal is still digesting its massive rally over the past few years.
However, we suspect gold has plenty of reasons to continue trending higher over time. One of the biggest reasons is soaring government debt. While the U.S. has the world’s largest gold holdings, that pile of gold stands at just 3% of government debt today:
As a percentage of government debt, gold reserves stand at a scant 3%. (Source: Azuria Capital)
Keep in mind, that only includes “official” debt, meaning it leaves out off-book debt like the unfunded liabilities for entitlements such as Social Security and Medicare.
With the U.S. debt-to-GDP ratio now over 120%, gold prices should continue to rise to reflect that rising debt default risk.
And given that gold’s value stands at such a small percentage of government debt, it’s not too late to gain exposure. Our research has shown that gold’s price could easily track into five figures.
~ Addison
P.S. Last week, I attended The Gathering, a group of investors in an international real estate project led by Grey Swan friend and associate Ronan McMahon and his team at Real Estate Trend Alert.
It was my first trip to Panama – and it was amazing. I got to sit down with the RETA team, and meet with several Grey Swan Investment Fraternity members.
Ronan McMahon kicks off The Gathering to a crowd of active buyers of Real Estate Trend Alert (RETA) below market deals. (Source: Noah Dutheman)
A video and stories from the Isthmus are on the way. It’s with our video team now, and will be up on the site soon.
That also means, we have another Grey Swan Live! two-fer for you. On Thursday, March 19, 2026 at 2 p.m. Eastern time, Shad Marquitz will be joining us for a look at the oil market, natural resources and rare earth demand in the wake of the Iran bombing campaign and disruption.
