BOMBSHELL NEWS! BRICS About to Change Gold and Silver Prices FOREVER - Matthew Piepenburg
BOMBSHELL NEWS! BRICS About to Change Gold and Silver Prices FOREVER - Matthew Piepenburg
Matthew Piepenburg, a seasoned financial analyst and commentator known for his insights into global macroeconomics, precious metals, and market trends, emphasizes the unique factors shaping gold's outlook in 2024. Drawing from historical context, Piepenburg notes that while gold dropped around 30% during the 2008 financial crisis, the 2024 environment differs considerably. Fundamental shifts like de-dollarization, currency realignments, and new BRICS initiatives create an unprecedented backdrop, suggesting that any future market downturn may not affect gold as it did in 2008.
Gold’s recent performance in 2024 has been marked by a decisive breakout above the $2,000 level, signaling what many consider the start of a sustained bull market. The long-term forecast anticipates gold reaching between $8,000 and $10,000 by 2030, driven by the increasing pressures on fiat currencies and shifting economic alliances. In the past decade, gold has spent approximately 80% of the time moving sideways and only 20% rallying. This trend could reverse in the future, with gold spending 80% of its time in rallies and only 20% trending sideways.
Gold has surged past $2,800, forming a swing high—a signal that a pullback may be on the horizon. Upcoming events, including the U.S. presidential election and the Federal Reserve's policy decision, will likely influence this trend. While the market appears to have priced ins a modest rate cut of 0.25% by the Fed, the election outcome may be a critical factor in the direction of precious metals in the near term.
Piepenburg highlights that gold remains historically undervalued when adjusted for inflation and compared to the M2 money supply. This indicates that gold has significant room to grow despite appearing high-priced in nominal terms. Analysts suggest that, in response to ongoing currency and debt challenges, gold could realistically climb to $4,000 or even $5,000 over the next decade, aligning with Piepenburg’s forecast of a long-term bullish trend.
Gold remains a prized asset for the world’s wealthiest individuals, offering a stable store of value and protection against currency volatility. Recent reports reveal that 21% of ultra-high-net-worth individuals globally have increased their gold holdings over the last two years, reflecting a clear preference for gold's security amid uncertain financial conditions. This trend extends to sovereign funds and central banks, which view gold as vital to their strategic asset portfolios.
According to the World Gold Council, central banks globally increased their gold reserves by a net 186 tons in the third quarter of this year. Year to date, central banks have added 694 tons to their reserves, a pace slightly below 2023’s record-setting levels but consistent with 2022 trends. Over a 12-month rolling period, central banks have expanded reserves by 909 tons, far above the historical average—a testament to gold’s enduring appeal as a safe-haven asset.
Financial expert Matthew Piepenburg highlights this shift, especially among Eastern countries, noting that these central banks have significantly reduced their holdings of U.S. Treasuries while buying gold at record levels. Around 30 countries have even taken the extra step of repatriating their gold from foreign exchanges to store it domestically, preferring the security of physical gold over the leveraged and often volatile paper markets like COMEX and the LBMA.
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