Is it always a good time to own gold?
Absolutely not. A portfolio in the S&P 500 or Treasuries in 1973 has returned a much higher rate than gold bought that year — even if gold raced ahead up ’til 1980, and is racing ahead again now. We know that throughout history gold has sustained its purchasing power, and fiat currency has lost its purchasing power. But we also know that stocks have grown their purchasing power.
But gold continues to rise — so what makes gold different right now? Well, from a technical perspective, America and the West are in a secular bear market:
But a technical perspective doesn’t really give enough political and economic background to explain why we are where we are.