BULLION BANKS DEFEATED! How Many Ounces Of Gold & Silver Are You HOLDING? - Marc Faber

BULLION BANKS DEFEATED! How Many Ounces Of Gold & Silver Are You HOLDING? - Marc Faber

In a compelling analysis of gold's historical journey, renowned Swiss investor Dr. Marc Faber draws attention to the remarkable trajectory of the precious metal's value over the past seven decades. From its modest price of 35 dollars per ounce in the 1950s to today's impressive valuation of approximately 2,650 dollars, gold has demonstrated its exceptional capacity to preserve and enhance wealth, outperforming traditional assets like real estate and everyday commodities such as bread.
The 1950s represented an era of unprecedented stability in gold prices, anchored by the Bretton Woods fixed-rate system. During this period, gold prices maintained remarkable consistency, moving only marginally from 34.84 dollars in 1953 to 35.10 dollars in 1959. This stability starkly contrasts the more volatile post-1970s era, when the abandonment of the gold standard introduced new market dynamics.
Recent market movements highlight gold's continued sensitivity to economic indicators despite its reputation for stability. A notable example occurred during North American trading hours when gold prices dipped below 2,630 dollars following the release of November's US Nonfarm Payrolls data. The report, showing 227,000 new jobs against an expected 200,000, alongside an increase in the unemployment rate to 4.2%, triggered this short-term price adjustment.
Faber's analysis extends beyond mere price comparisons, emphasizing gold's fundamental role as a hedge against inflation and currency devaluation. His perspective is particularly relevant in today's economic landscape, where he argues that the continued existence of central banks and governments ensures gold's enduring value as a store of wealth.
This view supports the World Gold Council's recent observations regarding central bank behavior. The organization notes a growing trend among emerging and developing nations to expand their gold reserves. This strategic shift reflects multiple concerns: the prevalence of low or negative-yielding sovereign debt, escalating sanctions risks, and the potential for currency conflicts. These nations increasingly view gold as a crucial financial security and independence tool in an uncertain global economic environment.
Dr. Marc Faber's analysis highlights a pivotal shift in global economic trends, marking the end of a decades-long period of declining interest rates and inflation. 2020 represented a historic turning point, with the 10-year Treasury yield touching an unprecedented low of 0.57%, averaging just 0.89% for the year before closing at 0.93%.
The COVID-19 pandemic played a decisive role in this culmination of the long-term downtrend. The Federal Reserve's aggressive monetary response to the economic crisis pushed rates to historic lows, marking the end of a cycle that had persisted for decades. However, Faber notes that both interest rates and inflation have since reversed course, entering what appears to be a new long-term upward cycle.

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