Commentary
As the stock market stumbled late last week, gold rose to over $4,000 and is up over 50% so far in 2025, its best year (by far) since the inflationary bubble of 1979. Gold, opening at $4,070 on Monday, is almost 200-fold higher than it was a century ago, due mostly to global turmoil and a lack of confidence in central banks. In fact, central banks have also lost confidence in their own currencies, as they keep exchanging paper money for over 1,000 tons of gold per year, each year since 2022, at the start of the Ukrainian War.
