Gold Could DOUBLE If This Bullish Cycle Acts Like Past Ones | Brien Lundin

Is $6,000/oz really possible?

Gold has been one of the best performing assets in 2024 so far.

It's up over 30% since the start of the year and recently hit a record high.

And with the central banks of the worlds largest economies -- the US, China and the EU -- now all cutting interest rates, will that add further fuel to gold's breakout?

For answers to all things gold, silver and the companies that mine them, we're fortunate to speak with Brien Lundin, CEO of Jefferson Financial, publisher of GoldNewsleter.com and producer of the excellent New Orleans Investment Conference.

Brien thinks that, if this current gold bull cycle acts like previous ones in history, that should bring the price of gold eventually up to $6,000/oz (or higher).

To hear the math why, click here or on the video below:

---

LOCK IN YOUR TICKET! Tickets are now on sale for our Oct 19th, 2024 Fall online conference. Buy your ticket now at our “Last Chance To Save” discount price:

Don’t worry if you can’t watch the conference live on Oct 19th. A replay of the entire event will be sent to everyone who registered within 24 hours of its conclusion.

---

I’m so grateful to everyone who has kindly supported me by becoming a premium subscriber to this Substack. It’s making an important difference in helping me afford the substantial operating costs of running Thoughtful Money.

Premium supporters receive my “Adam’s Notes” summaries to the interviews I do, the new MacroPass rotation of reports from esteemed experts, plus periodic advance-viewing/exclusive content. My Adam’s Notes for this discussion with Brien are available to them below.

If you, too, would like to become a premium subscriber to this Substack (it’s only $15/mo, less than $0.50/day), then sign up now below:

---

Adam’s Notes: Brien Lundin (recorded 10.1.24)

EXECUTIVE SUMMARY:

• Investors, ranging from institutional players to hedge funds and family offices, are preparing for a prolonged period of negative real interest rates driven by accommodative central bank policies. This trend, which has been in place for over 40 years, has created an environment where the serviceability of government debts depends on maintaining lower interest rates. Consequently, there is a gradual but impactful reallocation of portfolios toward hard assets like gold and silver, commodities, and real estate. This reallocation, though small in percentage terms, is significant for the smaller precious metals markets and has the potential to push prices higher.

• The United States has reached a critical point in debt servicing, with costs surpassing $1 trillion annually and continuing to rise despite lower interest rates. This is primarily due to the accumulated debt that has built up over decades. The need to keep interest rates below inflation rates to sustain this debt load is putting immense pressure on the U.S. economy and contributing to the attractiveness of hard assets. This debt-driven economic model creates a persistent bullish environment for gold and other monetary metals, as investors seek to preserve capital against the eroding value of fiat currencies.

• Gold has achieved a 30%+ year-to-date increase, marking one of its best bull market starts since the 1970s. The current bull market, which began around mid-2024, was initially fueled by central bank purchases and Chinese investor demand. Western investors started entering the market around July 2024, as indicated by significant inflows into gold ETFs such as GLD, signaling their anticipation of further price increases. The combination of institutional and retail interest is expected to continue driving the market, though with more volatility due to the speculative nature of Western investor behavior.

• While the gold market is poised for continued growth, short-term corrections or sideways movement are likely due to