$3,800/oz Gold: Still a Bargain (Here's Why) | The Gold Spot

Gold has broken out to fresh record highs after months of sideways trading, but the real story lies beyond the spot price. The precious metal’s long-standing connection to the money supply reveals why its gold rally may be far from over.

M2 — a key measure of cash, deposits, and savings — has expanded dramatically in recent years, eroding the US dollar’s purchasing power and reinforcing gold’s role as a finite store of value.

History shows this pattern clearly: in the 1970s, during the global financial crisis, and again in the wake of pandemic stimulus, gold climbed sharply alongside surging liquidity.

Today, with the US national debt at historic levels and global central banks still stockpiling gold bullion at an unprecedented pace, the current spot price of gold looks less like a peak and more like a stepping stone. Viewed against the money supply, gold’s true value could be far higher than most investors realize.

Watch this week’s The Gold Spot to hear Scottsdale Bullion & Coin’s Precious Metals Advisors Todd Graf and Joe Elkjer discuss how the sheer amount of money in the economy influences gold’s true value, why central banks continue topping up reserves even as gold reaches new record highs, and why prices are still cheap.

👉 READ MORE: https://www.sbcgold.com/blog/why-gold-isnt-expensive-even-at-all-time-highs/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_09242025

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📈 Live Gold Spot Prices: https://www.sbcgold.com/charts/gold-prices/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_09242025

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⭐ SBC Gold Precious Metals Advisors in this The Gold Spot video:

👤 Todd Graf: https://www.sbcgold.com/about/todd-graf/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_09242025

👤 Joe Elkjer: https://www.sbcgold.com/about/joe-elkjer/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_09242025