Gold Rush

 

Source: https://goldprice.org/

The price of gold jumped $68 today, and at this rate it will exceed $3000 per ounce within a few days.  It was as low as $1820/ounce on on 10/5/23 and since then the price has soared and it doesn't appear to be stopping.

See also: https://aftermath2022.blogspot.com/2024/04/gold-is-going-up-at-rate-of-25-per-month.html  At that time in April 2024, the price of gold was $2296 and I commented that it was increasing at the rate of 2.5% per month and 30% annually.  Actually it has increased 41.75% over the last year.

Also watch: https://www.youtube.com/watch?v=xdpf34TyVI0  A "Gold Run" May Have Begun at the Bank of England.  Everyone who has gold at the Bank of England is trying to get their gold out and gold that is located there is selling at a discount.  This is because people believe that the BOE doesn't actually have their gold because they lent it out.

See also: Bank of England suffers exodus of gold bullion .  Thousands of gold bars have been withdrawn from the Bank of England’s vaults since the end of last year amid fears around the impact of Donald Trump’s trade war. Threadneedle Street said roughly 8,000 bars had been moved out of its vaults in the past couple of months, representing around 2pc of the total stock. Sir Dave Ramsden, a deputy governor of the Bank, said it had been inundated with requests after gold prices on the futures market in New York surged above the London cash price. The wait to withdraw bullion stored in the Bank’s vaults has risen from a few days to several weeks as traders rush to take advantage of differences in price.