Gold Endgame Starts at $2,000 oz: Where Does It Go?!


  • Breaking news on October 27, 2023, reports Israeli soldiers entering Gaza, escalating the Middle East conflict.
  • A respected macroeconomic forecaster offers insights on the gold market in this week's SD Bullion Market Update.
  • The US bank system's precarious situation and a potential future-sized bank run are reviewed.
  • Current gold price trends, with gold nearing its all-time nominal record price high in fiat US dollars.
  • Discussion of the devaluation of the fiat US dollar and its implications.
  • Central banks collectively sell US bond IOU certificates and buy gold bullion at an unprecedented rate.
  • Gold outperforms stocks in 2023, with the prospect of continued growth.
  • Silver's strong performance, likely to outperform stocks in the coming years.
  • Analysis of the gold-silver ratio and its potential return to 2011 low levels.
  • Major US bank stocks are struggling, with indications of a looming financial crisis and a prominent figure leaving the banking industry.

Breaking news to close trading this Friday October 27, 2023.

It is being reported that thousands of Israeli soldiers have entered Gaza in what appears to be another major escalation in the ongoing war in the Middle East. 

Respected Macroeconomic Forecast

To close this week's SD Bullion Market Update we are going to hear a respected macroeconomic forecaster's take on where this gold market is headed perhaps sooner than most in the world could imagine at the moment.

We are also going to review how badly the US bank system is looking at the moment and the potential future sized bank run recently estimated by the fiat Fiat Federal Reserve itself.

Current Gold Price Trends

First let us listen to the other side of the world for some coverage from earlier this week on where current gold price points are around the world.

Gold in fiat US dollars is only 2.5% away from it's all time nominal record price high.

Of course the fiat US dollar has been devalued and later on in this week's update we'll cover the likely endgame for gold and its full accounting of how badly we have mismanaged our fiat financialized system over the last more than five decades running.

There is no stopping the basic math of the coming debt and deficit walls ahead for the US and other fiat currency creating out of thin air to pay for promises never saved for western nation states.

Of course world central banks collectively know all this and that is why they are selling US bond IOU certificates and collectively buying gold bullion faster and in larger size than they have before in history.

Gold Outperforming Stocks

Stocks through this year 2023 are being outperformed by gold. 

You see that yellow orange colored line moving higher? Get used to it.

Over the last calendar year you can say the very same for silver outperforming stocks.

Ultimately seeing the spot gold price blow beyond the S&P500 ratio is a both a conservative and likely later this decade target. In that world, silver will likely be outperforming them all.

For a bit more on bonds, gold and stocks let's have a listen to the stonk cheerleaders at CNBC.

To his point, the current percentage of the top 3000 companies in the USA have interest expenses which are greater than their current cash flows from operations. 

A coming wave of corporate zombie bankruptcies is still outstanding.

Come back after this short break and we'll dig into some of the coming fundamental drivers beyond the latest geopolitical violence and tension that will propel gold into yet another future mania phase.

Silver and Gold Market Performance

The silver and gold markets were mixed this week as the spot gold price popped to close the week based on middle east war escalations.

The spot silver price closed just over $23 oz bid while the spot gold price jumped over $2000 oz bid to finish the week.

Remains to be seen if we are building the floor here or if there will be more dips below $2000 to come.

The spot gold silver ratio ran up on gold strength to close the week at 87.

Nothing out of line on the long term basis or trend, for silver bulls in the gold silver ratio camp, to see the gold silver ratio eventually fall back towards 2011 low levels, you want to see gold strength lead the global bullion bull market.

US Bank Stocks Performance

Major US bank stocks continue to trade like trash and in a moment the leader of the insolvent banking system is jumping ship, cashing in on those who will be left on the sinking titanic.

First, the fiat Fed's Financial Stability Report recently admitted that there is over $20 trillion outstanding subject to a run or a John Exter's Pyramid meltdown of give me my capital back leading to gold mania phase crescendo.

Oh and the king rat of the bankster ruling class appears to be jumping his over leveraged market monopolistic parasitic ship.

To close this week, we're going deep.

I wanted to share with you all a mind bending clip from this week provided by a CMEGroup aka COMEX NYMEX sponsored podcast by RiskReversal Media. Luke Growmen is a no joke macro forecaster who I met in person a few years back being from the same city he lives in. The man is sharp and he will bring this week's SD Bullion Market Update to an appropriate close.

You remember how I persistently remind you that ongoing spot prices we see for precious metals are a derivative leveraged mirage?

Well he's going to run through his endgame thesis of what it will take to eventually bring the red and blue lines into eventual multilateral equilibrium.

Strap in.

That is all for this SD Bullion Market Update.

As always, to you out there.

Take great care of yourselves and those you love.

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James Anderson
James Anderson
Senior Market Analyst & Content

A bullion buyer years before the 2008 Global Financial Crisis, James Anderson is a grounded precious metals researcher, content creator, and physical investment grade bullion professional. He has authored several Gold & Silver Guides and has been featured on the History Channel, Zero Hedge, Gold-Eagle, Silver Seek, Value Walk and many more. You can pick up Jame's most recent, comprehensive 200+ Page book here at SD Bullion.

Given that repressed commodity values are now near 100-year low level valuations versus large US stocks, James remains convinced investors and savers should buy and maintain a prudent physical bullion position now, before more unfunded promises debase away in the coming decades...