Read full text: https://www.lewrockwell.com/2024/10/claudio-grass/gold-climbing-from-record-high-to-record-high-why-buy-now/
 | There is no question that gold owners have been finally and spectacularly vindicated over the last months: the “barbarous relic”, the “worthless shiny rock”, as many have called the yellow metal, once again proved its value as a true safe haven. In the face of inflation, intense geopolitical turmoil and widespread uncertainty, investors fled to safety “en masse”, as they consistently, repeatedly and predictably have done for decades (if not centuries), inevitably pushing the gold price to unprecedented heights. Apart from the significant financial gains that gold investors have seen, true gold bugs also finally reaped the indisputable satisfaction of … Continue reading → www.lewrockwell.com |
This is why a “record high” gold price is not a meaningful signal in the same way that a record high in a stock price is. It does not suggest that gold is “toppish” like a stock would be. Gold doesn’t have a “top”. Its price fluctuations do not ebb and flow according its “performance”. Its value is constant and unchanging and its price only moves when everything else around it moves. Students of monetary history clearly understand this: gold is the standard by which everything else is measured.