Low or Negative Interest Rates

When real interest rates are low (or negative), investors turn away from paper assets with declining value and turn toward assets with real value, like gold.

Higher Gold Prices

Central Bank Policy

For the past several years, central banks around the world have switched from being net sellers to net buyers of gold.

Higher Gold Prices

The End of Easy Monetary Policy

A long period of historically low interest rates worldwide encouraged massive borrowing at every level, and the world now faces record amounts of debt.

Higher Gold Prices

Lack of New Discoveries in Gold Mines

Gold miners have experienced increased production costs, resulting in a higher replacement cost per ounce of gold.

Higher Gold Prices

China and India “Chindia” Have Strong Cultural Affinity for Gold

Growing middle classes in the world’s most populous countries fuel gold buying for weddings and seasonal gifts.

Higher Gold Prices