Gold is likely to trend higher in the months ahead. We expect the price to break $3,500.
It’s basic.
Whether you measure gold in dollars, Euro, yen, or rubles, those are fiat currencies. The supply of every one of them is growing faster than the new supply of gold coming to market.
Here’s a remarkable new fact:
Foreign central banks now hold more gold than U.S. Treasury assets.
Global central banks continue to sell U.S. Treasury bonds and stockpile gold at near nominal all-time highs (Source: Bloomberg, Tavi Costa)
In modern finance theory, only U.S. T-bills are considered risk-free assets.
Central banks are telling us they believe the real risk-free asset is gold.
Our Grey Swan research shows exactly how the dynamic between government finance and gold is playing out in real time.
Take a look.
~ Addison
P.S. Yesterday’s Grey Swan Live! with Andrew Zatlin was phenomenally lucid. If you’re a paid-up member and you missed it – that’s a mistake.
We examined a historic setup in the stock market: seasonal weakness versus an ill-timed rate cut promise. The blow-off rally into 2026 is upon us. You’ll want to catch the full recoding, up on the Grey Swan site now.
P.P.S. Hopefully you’re also aware we’re hosting a free live tax seminar on how to keep more of your investment proceeds with IRS-compliant strategies today.
Register for the free event here:
August 29, at 1 p.m. ET. Registration is free and easy — reserve your spot here.
If you have any questions for us about the market, send them our way now to: Addison@GreySwanFraternity.com
