Gold Holds As Investors Weigh China, Iran Relations

Gold Price Today, Wednesday, September 23, 2026: Gold Holds As Investors Weigh China, Iran Relations

Tim Manni · Wed, September 23, 2026   Gold (GC=F) December futures opened at $4,394.70 per troy ounce on Wednesday, September 23, 2026, up 0.4% from Tuesday's close. Gold moved lower in early trading this morning to $4,352 per troy ounce as of 6:51 a.m. ET.

Gold prices have settled back in the $4,300 range again as investors weigh the latest developments in Iran relations and as President Trump welcomes Chinese leader Xi Jinping to Washington today. This week's U.S.-China summit marks the first time in 11 years the Chinese President has been to Washington, D.C.

Many important issues are on the table for the two world leaders to discuss this week, including trade negotiations, rare earths, AI, and the war in Iran.

Hopes for easing tensions between the U.S. and Iran have been lifted after the two countries met for several hours at the United Nations yesterday, with oil prices responding in kind. Brent crude oil prices (BZ=F) are now down to under $96 a barrel, a 9.98% decline over the last five days.

Live updates: Stock market today: Dow, S&P 500, Nasdaq futures muted as oil falls, markets eye looming Trump-Xi meeting

Current Price Of Gold 

Gold futures opened flat on Wednesday, September 23, 2026, compared to Tuesday's close. Here's a look at how the opening gold price has changed versus last week, month, and year:  

• One week ago: +1.4%

• One month ago: -4%

• One year ago: +16.2%

For context, the one-year gain for gold was 95.6% on Jan. 29.

24/7 gold price tracking: Don't forget you can monitor the current price of gold on Yahoo Finance 24 hours a day, seven days a week. 

Want to learn more about the current top-performing companies in the gold industry? Explore a list of the top-performing companies in the gold industry using the Yahoo Finance Screener. You can create your own screeners with over 150 different screening criteria.

Considering A Gold Alternative?

If you're looking for a gold alternative, Yahoo Finance also tracks the daily price of silver (SI=F) and the daily price of bitcoin (BTC-USD) and ethereum (ETH-USD).

Ways To Invest In Gold 

There are different ways to invest in gold, and each has pros and cons. Four common options are:  

1. Physical gold

2. Gold mining stocks

3. Gold ETFs

4. Gold futures

Physical gold

Physical gold includes jewelry, gold bars, and gold coins. Some prefer physical gold over other forms because it's tangible and easy to purchase. You can easily buy a gold necklace at the mall or gold bars at Costco (COST). 

Physical Gold Pros And Cons

 The Advantages Of Physical Gold Include:

1. Readily accessible for use: If you keep your physical gold at home, it is easily available to use as a medium of exchange in an economic emergency.

2. No added volatility or ongoing fees: If you hold the gold yourself, "you eliminate counterparty risk and storage fees or expense ratios," explained Brett Elliott, director of content and SEO at American Precious Metals Exchange (APMEX). You also avoid the added business volatility associated with gold mining stocks, as explained below. 

The Disadvantages Of Physical Gold Include:

1. Risk of theft or loss: Physical gold must be properly secured. You can store it at home for free, or invest in third-party storage and insurance. Remember that fees associated with storage or insurance dilute your returns.   

2. Lower liquidity: Physical gold is less liquid — that is, harder to sell quickly — than stocks or ETFs. Also, if you are not using the gold as a medium of exchange, you must find a dealer and pay a markup on the sale.

   TO READ MORE: https://finance.yahoo.com/personal-finance/investing/article/gold-price-today-wednesday-september-23-2026-gold-holds-as-investors-weigh-china-iran-relations-110649042.html

Gold’s Investment Case Has Fundamentally Changed, And Rising Yields Are No Longer A Dealbreaker

Gold’s Investment Case Has Fundamentally Changed, And Rising Yields Are No Longer A Dealbreaker - FTSE Russell’s De

By Neils Christensen  (Kitco News) - Rising bond yields are creating a significant headwind for gold, but investors should be careful about applying the precious metal’s traditional relationship with interest rates too rigidly, as structural changes in global demand continue to support elevated prices, according to FTSE Russell.

In an interview with Kitco News, Indrani De, Head of Global Investment Research at FTSE Russell, said both nominal and real yields are moving higher, which traditionally increases the opportunity cost of holding a non-yielding asset like gold. However, she said the gold market has undergone a fundamental shift as central banks have become increasingly important buyers.

De explained the growing influence of central-bank demand is a significant reason why gold has become somewhat less sensitive to rising real yields. She noted that central banks were net sellers of gold from 2000 until the Global Financial Crisis, before becoming net buyers. More recently, the pace of purchases has accelerated substantially.

“ The extent to which central banks are buying gold today, in the last two, three years, is more than twice the level of what it was between 2010 and 2021,” she said. 

She added that this demand matters because official-sector buyers generally aren't making allocation decisions based on the opportunity cost created by higher bond yields.

“We now have a huge chunk of demand for gold coming in from sources that are not sensitive to yields,” she said. “That is one very big reason why you see much more of a decoupling between the rising yields and gold prices.”

That shift is also showing up in global reserve allocations. De said that at current valuations, central banks collectively hold more gold than U.S. Treasuries. At the same time, she noted that the U.S. dollar's share of global foreign-exchange reserves has been on a structural downtrend, falling from just above 70% around the turn of the century to between 55% and 57% today.

However, De pushed back against the idea that this trend means central banks are simply losing faith in the U.S. dollar.(Kitco Global Index shows how much of today's gold move is the dollar versus the gold market itself.)

She said the dollar's dominant role remains largely unquestioned because there is no viable alternative of comparable scale. Instead, she characterized the trend as a gradual diversification of reserves amid a changing geopolitical and economic landscape.

De also expects official-sector gold demand to remain an important feature of the market. Although purchases could retreat from the exceptionally high levels of recent years, she said demand is geographically broad, including central banks across Asia and Latin America, while heightened geopolitical uncertainty is unlikely to disappear anytime soon.

At the same time, central banks are no longer the only important source of demand. De said investment demand through retail investors and gold-backed exchange-traded products has also increased, giving the market a broader base of buyers.

Gold, she added, continues to function as an inflation and geopolitical-risk hedge and offers another potential advantage as concerns surrounding currency debasement grow.

“Gold has the stability to it also,” she said. “Gold has many strengths which counter the headwinds from rising yields.”

While higher yields remain a risk for gold, De said investors also need to understand why yields are rising. Fiscal concerns across developed economies are one factor, with De describing the current environment as one of growing “fiscal dominance,” where fiscal policy increasingly overpowers monetary policy.

But not all of the rise in yields is necessarily negative for gold.

De said the global economy is moving away from the post-financial-crisis era of abundant cheap capital. Capital is becoming scarcer because there are increasingly productive uses for it, including artificial intelligence, infrastructure investment, reshoring and the global green energy transition.

She said this repricing of capital can ultimately support stronger productivity, while higher borrowing costs also put pressure on less productive “zombie companies.”

“There are a lot of good reasons why yields are increasing, and we need to be cognizant of that too,” she said.

That changing investment landscape is also creating opportunities beyond gold.

De said strength in currencies tied to major commodity-producing economies — including the Norwegian krone and Australian dollar, as well as the Brazilian real and Mexican peso — is another indication that commodities have an increasingly important role in global markets.

Copper is particularly well positioned within those structural trends. Traditionally viewed as a barometer of global economic activity because of its widespread industrial use, the metal is now benefiting from additional demand tied to AI infrastructure and the energy transition.

“We are in a world where commodities have a big role to play, because it's not just gold,” De said. “You have copper.”

The energy transition could provide another long-term source of commodity demand. De said the disruption in global energy markets has reinforced the connection between energy security and economic security. She noted that refined petroleum products have experienced even greater price pressures than crude oil, highlighting the risks of relying heavily on individual energy sources and vulnerable supply chains.

She said growth in electric vehicles and batteries globally suggests the green transition has actually accelerated this year, rather than stalled.

“The more diversified you are in your energy security, the better off you are,” she said, adding that the transition has “picked up pace this year.”

Ultimately, De said the investment environment is becoming less about choosing between traditional “risk-on” and “risk-off” positions and more about building portfolios capable of participating in growth while protecting against increasingly complex risks.

She noted that capital flows during the past three to six months show investors pursuing something of a barbell strategy: maintaining exposure to U.S. and global equities and the AI growth story while simultaneously buying high-quality, short- and intermediate-duration investment-grade fixed income for capital preservation and liquidity.

“We are certainly in a world where diversification is having more than its normal share of benefits,” De said. “Diversification is really paying off at this particular point in time.”

See live precious metals prices for gold, silver, platinum and palladium — in USD, CAD and 12 more currencies.

Gold’s investment case has fundamentally changed, and rising yields are no longer a dealbreaker - FTSE Russell’s De

Why Gold Prices Could Keep Rising Despite High US Yields And Interest Rates

Why Gold Prices Could Keep Rising Despite High US Yields And Interest Rates

Updated Sep 21, 2026, 05:56 PM

• Gold prices are expected to rise through 2027 despite high US interest rates and bond yields, driven by central bank purchases and concerns over US government debt.

• Central banks, especially China, have increased gold buying significantly, with global purchases nearly doubling pre-2022 levels, supporting gold as a safe asset against financial crises.

• Geopolitical tensions and cautious investor sentiment help maintain gold's resilience, with forecasts predicting prices up to US$5,400 an ounce by late 2027.

SINGAPORE – Gold prices are expected to rise further into 2027 despite high interest rates and volatile bond yields, as central bank purchases and concerns over US government debt continue to support demand for the precious metal.

Gold has had a mixed year, surging to a record high of US$5,594.82 an ounce on Jan 29 before retreating sharply to around US$3,942 in June. It has since regained some ground despite volatility in the bond market and a recent US interest rate hike, and was trading at around US$4,360 on Sept 21.

Higher interest rates and bond yields typically weigh on gold prices, as they increase the opportunity cost of holding the precious metal, which does not pay interest. Still, analysts expect gold prices to continue rising into 2027, with forecasts reaching as high as US$5,400 an ounce in the third quarter of 2027.

Zavier Wong, market analyst at etoro, said the reason behind the rise in US Treasury yields matters for gold.

If yields rise because the US economy is strong, gold typically comes under pressure as investors can earn higher returns elsewhere, while a stronger US dollar also makes the precious metal more expensive for buyers using other currencies.

But the recent rise in longer-term yields has instead been driven partly by concerns over the amount of debt being issued by the US government to fund its deficit.

US public debt crossed US$40 trillion (S$51 trillion) in August, while the yield on the 30-year US Treasury bond climbed as high as 5.4 per cent in September.

Wong noted that while higher yields make interest-paying assets more attractive relative to gold, concerns over US government finances are at the same time encouraging investors to turn to gold as an alternative.

“Debt-driven yields only provide the opportunity cost, because the same fiscal doubt pushing yields up is also pushing money into gold as the alternative,” said Wong. “The two effects mostly cancel out... That is the kind of rise we are seeing now, and it explains why gold has held up.”

Wong added that central banks are also buying gold to protect against financial crises and currency risks, and that the US Federal Reserve’s 25-basis-point rate increase on Sept 16 is unlikely to be enough to reverse those purchases.

Central banks globally bought 289 tonnes of gold in the second quarter of 2026, with purchases expected to reach between 700 tonnes and 900 tonnes for the full year, nearly double the annual average before 2022.

The People’s Bank of China alone bought more than 20 tonnes of gold in August, its largest monthly purchase since 2023 and its 22nd consecutive month of gold purchases.

Investor demand has also remained strong, with global investors adding US$18 billion to gold exchange-traded funds in August, according to data from the World Gold Council.

Wong said the next key indicator for prices will be central bank purchases in the third quarter of 2026. “If that number comes in weaker, it means the central bank bid that’s been holding gold prices up is starting to fade,” he said.

Christopher Irwin, head of foreign exchange and precious metals trading for Asia at Julius Baer, said much of the US Fed’s expected tightening had already been priced in before its latest decision.

As a result, the latest rate increase generated little additional selling pressure.

Irwin said that the longer-term case for gold remains intact, supported by concerns over monetary credibility and investors’ willingness to increase their exposure when prices fall.

“Gold’s bull market began in late 2023 under a more restrictive US policy regime, underscoring that the metal’s trajectory is being shaped by forces well beyond interest rates,” he said.

Heidi Sum, global head of product specialists for liquid real assets at German asset management firm DWS, said gold’s near-term direction will depend on the Fed’s next move. “A one-and-done signal could ease the pressure from higher inflation-adjusted yields and support a recovery, while further rate increases would likely keep gold volatile,” she said, adding that DWS forecasts gold at US$5,000 an ounce by September 2027.

Jeremy Tan, chief executive of Tiger Fund Management, said gold prices continue to be supported by geopolitical risks, particularly escalating tensions in the Middle East.

“We expect gold prices to remain highly resilient between US$4,300 and US$4,400 an ounce,” Tan said, adding that safe-haven demand for gold should help offset any price pressure from elevated short-term interest rates and inflation.

Heng Koon How, head of markets strategy at UOB, noted that gold prices briefly fell below US$4,300 an ounce after the Fed raised rates on Sept 16, before recovering towards US$4,400.

This rebound was an “encouraging sign” that gold was consolidating as investors adjusted to the higher interest rate environment.

UOB forecasts gold at US$4,500 an ounce in the fourth quarter of 2026 and expects prices will continue climbing to reach US$5,400 an ounce in the third quarter of 2027.

Timothy Goh is a business correspondent at The Straits Times. He covers commodities and currencies, with occasional forays into listed companies.

https://www.straitstimes.com/business/companies-markets/why-gold-prices-could-keep-rising-despite-high-us-yields-and-interest-rates

Bill Holter: Fiat to Fail, US$180,000 Gold Will Look "Laughably Low"

Bill Holter: Fiat to Fail, US$180,000 Gold Will Look "Laughably Low"

Investing news:  9-21-2026

Bill Holter of BillHolter.com believes gold's next leg higher has already begun, and its ultimate catalyst is the financial markets themselves. "I think price wise, we're early, Time wise, I don't think there's a lot of time left before we see the implosion of fiats.

The inverse of that is an explosion of prices of everything down to a stick of gum or a cup of coffee," he said. Holter also explains how a gold price of US$180,000 per ounce could be "laughably low" in the long term.

With decades of experience navigating the intricacies of credit markets and investment management, Holter provided a comprehensive breakdown of the structural vulnerabilities plaguing the international financial system.

His insights shed light on the unseen mechanisms of debt, the historical cycles repeating today, and the critical steps individuals must take to protect their wealth in an era of unprecedented volatility.

At the core of the discussion is the sheer fragility of the global financial architecture, which Holter argues is built on an unsustainable foundation of excessive derivative exposure and mounting sovereign debt. As interest rates remain elevated globally, the cost of servicing this debt has escalated dramatically, placing immense pressure on both public treasuries and private financial institutions.

Holter warns that the complex, interconnected web of derivatives—often described as highly leveraged financial contracts—is highly sensitive to sudden interest rate fluctuations. A disruption in this delicate market could trigger a rapid contraction in credit availability, which would immediately impact the day-to-day operations of businesses and supply chains worldwide.

To understand the severity of the current situation, Holter draws a compelling parallel to the historic market crash of 1987.

During that period, a sudden spike in interest rates combined with excessive leverage and automated trading strategies to trigger a swift, systemic shock.

 Today, however, the scale of leverage and the complexity of the derivatives market dwarf the conditions of the late 1980s. When massive amounts of debt are layered on top of volatile interest rate environments, the margin for error becomes virtually nonexistent.

Consequently, what began as a localized monetary tightening cycle has the potential to ripple throughout the global banking sector, disrupting the essential flow of credit that keeps the real economy functioning.

A key point of confusion for many market participants today is the difference between nominal asset prices and their actual, inflation-adjusted value. Holter emphasizes that while stock indices and real estate values may appear high in paper currency terms, this growth is largely an illusion driven by the devaluation of fiat currency.

 When measured against real-world purchasing power, many traditional assets are actually depreciating. This phenomenon is particularly evident in the precious metals market. Despite marking significant nominal gains, gold and silver remain deeply undervalued when adjusted for the massive expansion of the global money supply, reinforcing their historical role as the ultimate hedges against monetary debasement.

As the traditional financial system faces these mounting pressures, international geopolitical dynamics are shifting rapidly to adapt to a new reality.

One of the most significant developments discussed by Holter is the steady decline of US Treasury dominance on the world stage. For decades, the US dollar and Treasury bonds served as the undisputed foundation of global reserves. However, the rise of the BRICS+ coalition is actively challenging this hegemony.

These nations are moving toward a gold-backed alternative trading system designed to bypass traditional Western financial infrastructure. This shift is further illustrated by longtime US allies, such as Saudi Arabia, reevaluating their economic and military alliances in response to changing global power dynamics.

In response to these systemic challenges, governments and central banks are likely to propose technological interventions to maintain control over the monetary system.

Holter anticipates that central bank digital currencies, or CBDCs, will be introduced under the guise of providing stability, efficiency, and direct assistance to citizens during times of financial stress. However, he cautions that these digital currencies do not solve the underlying problem of excessive debt and currency devaluation. Instead, they represent a mechanism for increased oversight and financial programming. Ultimately, Holter believes such interventions will fail to prevent a natural revaluation of global assets and trade relationships—a process he terms a “mother nature reset.”

For individual savers and investors, navigating this transition requires a fundamental shift in strategy away from traditional paper-based liabilities. Holter advises extreme caution when holding fiat debt instruments, such as long-term bonds, which are highly vulnerable to inflation and default risk. Instead, he highlights the time-tested safety properties of physical monetary metals.

Because physical gold and silver carry no counterparty risk and cannot be printed into oblivion, they represent a tangible store of value that exists outside of the banking system. Preparing for a systemic realignment involves securing tangible assets that can withstand a sudden freeze in credit markets.

As systemic risks continue to intensify, the importance of financial education and proactive preparation cannot be overstated. Understanding the mechanics of debt, leverage, and currency devaluation allows individuals to make informed decisions before market forces mandate sudden changes.

0:00 - Intro

0:55 - Gold has bottomed

3:34 - Next leg up has begun

6:03 - Fed's hands are tied

8:31 - Mother of all bubbles

11:01 - Economy, stock market

14:43 - How to prepare now

18:11 - System reboot ahead

22:01 - US$180,000 gold price?

25:42 - Protect what you have

27:10 – Outro

https://www.youtube.com/watch?v=zKTPLWiw9BE

What A Fed Rate Hike Could Mean For Gold And Silver Prices

What A Fed Rate Hike Could Mean For Gold And Silver Prices

MoneyWatch: Managing Your Money

By Angelica Leicht  September 14, 2026 / 1:07 PM EDT / CBS News

Gold and silver investors have had to contend with some sharp price moves so far in 2026. Gold, for example, surpassed $5,500 per ounce early this year, but has since retreated significantly from that record high, with the price of gold sitting closer to $4,275 per ounce as of mid-September.

Silver, on the other hand, has also experienced sizable price swings as investors have responded to shifting expectations for inflation, interest rates and the economy.

And those price movements could become even more pronounced in the days ahead. The Federal Reserve meets September 15 and 16, and persistent inflation has increased the possibility of another rate hike.

That prospect matters for precious metals investors because changes in interest rates can quickly alter where investors put their money and how much they're willing to pay for assets such as gold and silver.

Still, the outcome isn't as simple as higher rates automatically leading to lower precious metals prices. Gold and silver are being pulled by several competing forces right now, and the Fed's decision is only one of them.

So, if the central bank does raise rates this week, what could it actually mean for gold and silver prices — both immediately and in the months that follow? That's what we'll examine below.

What a Fed rate hike could mean for gold and silver prices

If the Fed raises rates at its September meeting, gold and silver prices could face some short-term pressure, as higher interest rates tend to make other interest-bearing options, such as bonds and savings products, more attractive. Gold and silver assets don't pay interest, though, so some investors may be less willing to hold them when they can earn higher returns elsewhere.

A rate hike could also boost the U.S. dollar, which can create another challenge for precious metal prices. Gold and silver are priced in dollars, so when the dollar strengthens, the precious metals become more expensive for buyers using other currencies. That can reduce demand for gold and silver and put additional downward pressure on prices.

Still, a rate hike doesn't guarantee that gold and silver prices will fall. Investors often adjust their portfolios before the Fed actually makes a move, so some of the impact of the potential September rate hike could already be reflected in today's prices.

So, if the Fed raises rates as expected, the bigger price reaction may hinge on what policymakers say about whether more hikes are likely in the coming months.

Other factors could keep gold prices elevated — even if rates rise. For example, if inflation remains high or concerns about the economy or geopolitical conflicts increase, investors may continue buying gold as a way to diversify their portfolios and protect against uncertainty. Strong demand from central banks and other large buyers could provide additional support.

Silver could react somewhat differently. Like gold, it can be affected by interest rates, the dollar and investor demand. But silver is also used heavily in manufacturing and technologies such as solar panels and electronics.

That means its price is tied, in part, to the strength of the global economy and industrial demand. If higher rates slow economic activity, weaker industrial demand could put additional pressure on silver.

So, a Fed hike would likely be a headwind for both precious metals, but it wouldn't be the only factor determining where prices go next. The Fed's outlook for future rates, along with inflation, the dollar, economic conditions and demand for precious metals, could ultimately have a bigger impact than the upcoming rate decision alone.

What should gold and silver investors watch after the Fed meeting?

TO READ MORE:  https://www.cbsnews.com/news/what-fed-rate-hike-means-for-gold-silver-prices-september-2026/?intcid=CNI-00-10aaa3a

You asked, we answered: Why Are Central Banks Moving Their Gold Reserves

You asked, we answered: Why Are Central Banks Moving Their Gold Reserves

15 September, 2026

Gold on the move

On 2 September, De Nederlandsche Bank (DNB) announced that it had transferred approximately 86t of gold from New York and Ottawa to London.1 The operation, conducted between March and August 2026, was designed to improve the liquidity and tradability of DNB’s gold reserves and strengthen its preparedness for severe crises.

At first glance, the decision might look like another example of a central bank bringing its gold closer to home. It is more revealing than that. London’s share of Dutch gold reserves rose from 18.1% to 32.1%, surpassing domestic holdings of 30.8% and making London, rather than the Netherlands, the largest single storage location for Dutch gold. The shares held in New York and Ottawa fell to 18.5% each, from 31.3% and 19.7%, respectively.

The mechanics were equally significant. Around 59t was sold in New York and replaced with internationally tradable gold in London. More than 27t of gold was physically transported from North America to DNB’s facility in Zeist, while a similar quantity moved from Zeist to London. This was therefore a strategic reallocation of reserve locations, not simply 86t of bullion being flown across the Atlantic.

The announcement nevertheless highlights a broader shift in central bank thinking on where gold reserves should be stored to balance security, accessibility and liquidity.

From repatriation to location strategy

Gold repatriation is not new.2 In 2000, Germany transferred around 930t from London to Frankfurt, with the Bundesbank subsequently confirming that the gold had been inspected and that some bars were to be recast to meet Good Delivery standard.3 But the issue became much more prominent after the global financial crisis.

Venezuela returned 160t from foreign institutions in 2011–12.4 Germany followed with a second programme, transferring 674t from New York and Paris to Frankfurt between 2013 and 2017.5 The Netherlands moved 122.5t from New York to Amsterdam in 2014,6 while Austria moved 90t from London between 2015 and 2018.7 Later in the decade, Türkiye changed the overseas custody location of part of its gold, while Hungary and Poland moved physical reserves into domestic storage.

The range of countries reviewing or changing their gold storage arrangements has broadened since then. Serbia reportedly returned around 13t between 2021 and 2022.8 India has progressively increased domestic gold holdings since 2022, with the pace of relocation accelerating sharply after March 2023.9 France also changed the geographical distribution of its gold exposure in 2025–26, selling 129t held in New York and acquiring an equivalent quantity of replacement gold in Europe. The Banque de France did not describe the operation as a physical relocation.10

Chart 1: Selected central bank repatriations, strategic relocations and uncompleted proposals since 2000

Dates reflect the announcement or broad programme period. Routes are simplified. Changes in custody position do not always prove physical shipment.
Source: World Gold Council analysis of central bank disclosures and cited public sources

Three waves, but no single motivation

One way to interpret the post-2000 history is through three broad, overlapping waves:

• The first wave reflected an early reassessment of reserve location arrangements. Germany’s transfer of around 930t from London to Frankfurt in 2000 showed that the geographical distribution of official gold was already being reconsidered well before repatriation became a prominent geopolitical issue.

• In the second wave, from roughly 2011 to 2019, questions of national control and public confidence became more visible. Venezuela presented its decision in terms of greater national control.11 Elsewhere, central banks generally pursued more balanced strategies. Germany wanted half of its reserves in Frankfurt, while Austria also ultimately held half of its gold reserves domestically but retained substantial holdings in London and Switzerland to preserve access to international markets; Poland combined domestic repatriation with a major expansion of its gold reserves.

• The third wave is more complex. Heightened geopolitical uncertainty has increased attention on jurisdiction, access during a crisis and exposure to overseas financial infrastructure.12 Yet recent operations by France and DNB show that the answer does not necessarily lie in domestic storage alone. Central banks are increasingly optimising across three considerations: custody risk, physical accessibility and market liquidity.

DNB’s decision captures this evolution particularly well. In 2014, it moved gold from New York to Amsterdam to increase the proportion held domestically. In 2026, it moved gold from North America predominantly to London to make it more readily deployable. These decisions point in different geographical directions, but share the same objective: resilience through a more purposeful distribution of reserves.

Chart 2: Where do you currently vault your gold reserves? (Please select all that apply)

2026 base: All central banks who hold gold (69); advanced economy (16); EMDE (53). Note: Respondents were able to select all options that applied.
Source: World Gold Council, YouGov

What central banks themselves are saying

Our 2026 Central Bank Gold Reserves Survey reinforces this interpretation. The Bank of England remains the most commonly cited vaulting location, used by 57% of respondents, while 49% reported holding at least some gold domestically.

Over the preceding 12 months, 9% of respondents had increased domestic storage, but 10% had diversified their overseas storage locations. Looking ahead, 7% planned to increase domestic storage and 9% expected to diversify further overseas. The latter figure rose from just 2% in the previous survey.

TO READ MORE: https://www.gold.org/goldhub/gold-focus/2026/09/you-asked-we-answered-why-are-central-banks-moving-their-gold-reserves

The Currency Reset Is Accelerating And Gold Knows It

The Currency Reset Is Accelerating And Gold Knows It

Taylor Kenny:  9-11-2026

The currency reset may not happen in one dramatic moment. It could already be happening right in front of us.

Gold is surging—but what if the real story isn’t gold at all? The most important question may not be “How high can gold go?” It may be: What will the dollar be worth when it gets there?

Economic systems undergo natural cycles, but historical patterns reveal a consistent trajectory regarding unbacked paper money.

In recent years, growing national debts, persistent inflation, and shifts in international trade have raised important questions about the long-term stability of the global financial architecture.

A comprehensive video analysis by ITM Trading explores these exact dynamics, detailing how monetary history repeats itself and why tangible assets are becoming the cornerstone of modern risk management strategies.

Throughout modern history, unbacked national currencies, commonly known as fiat currencies, have followed a remarkably predictable path. When governments experience prolonged financial obligations, the expansion of the money supply often becomes the default administrative response.

This continuous influx of new currency units directly dilutes existing capital, leading to systemic inflation that steadily erodes consumer purchasing power. Over time, as national spending remains unchecked, the devaluation process accelerates, creating a compounding cycle that historically leads to monetary resets and severe economic readjustments.

A critical aspect of today’s changing monetary environment is the ongoing trend toward de-dollarization. For decades, the United States dollar has maintained an unprecedented position as the primary reserve currency for international trade and institutional settlement.

 However, global central banks are increasingly seeking to reduce their exposure to single-currency reliance. To mitigate potential risks associated with foreign debt obligations and currency devaluation, central banking institutions worldwide are aggressively accumulating physical gold at historic levels, choosing to anchor their reserves in an asset free of counterparty risk.

Historical precedent provides clear examples of how rapidly paper currency can deteriorate once public confidence wanes. Economic crises in countries like Venezuela and Mexico highlight how quickly domestic currencies can lose their functional value under hyperinflationary pressure.

During these periods of severe financial distress, paper notes lose their ability to act as a reliable store of value. Conversely, physical gold has consistently retained its purchasing power across centuries of economic volatility, primarily because its finite supply and physical scarcity give it enduring intrinsic worth that cannot be created through policy decisions.

For everyday individuals and institutional investors alike, attempting to time economic shifts or predict exact future asset prices is often a futile exercise. The insights shared by ITM Trading emphasize that recognizing broader structural patterns is far more beneficial than forecasting short-term market movements.

The process of currency devaluation builds momentum gradually over time—much like a growing snowball—before reaching a critical tipping point. Understanding these underlying macro trends allows individuals to position their assets thoughtfully well before systemic shifts force broader market realignments.

Ultimately, physical gold continues to serve as a foundational safeguard against monetary instability. As central banks continue their strategic pivot toward real assets, the case for holding tangible wealth alongside traditional paper assets grows stronger.

CHAPTERS:

00:00 – Europe Is Coming for Your Savings

00:59 – Europe’s Massive Debt and Funding Problem

01:57 – The €10 Trillion Pool of Household Savings

02:26 – The Savings and Investment Union Explained

03:24 – Digital ID, the Digital Euro & Financial Control

04:52 – When Incentives Become Rules

05:21 – Could U.S. Retirement Accounts Be Next?

06:17 – Wall Street Wants Access to Your Retirement Money

07:12 – The Push Toward a Programmable Financial System

08:10 – How to Protect Wealth Outside the System

https://www.youtube.com/watch?v=lJnvqJQkfpI

The U.S. Wants a Much Higher Gold Price | Tom Luongo

The U.S. Wants a Much Higher Gold Price | Tom Luongo

Miles Franklin Media:  9-9-2026

Andy Schectman, President and CEO of Miles Franklin Precious Metals, interviews Tom Luongo, financial and geopolitical commentator, market analyst, and publisher of Gold, Goats ’n Guns.

Luongo presents his contrarian thesis that the United States may actively favor a much higher gold price, potentially reaching $20,000, as it restructures the dollar system and addresses its sovereign debt burden.

He explains why gold, silver, and Bitcoin may ultimately need to be repriced as collateral within a changing monetary system.

The conversation also examines the unwinding Japanese yen carry trade, mounting pressure in global bond markets, and the shift from LIBOR to SOFR.

Luongo argues that these developments are part of a much larger struggle over financial sovereignty and control of global capital flows.

For investors navigating sovereign debt, currency risk, inflation, and monetary change, this discussion offers a different perspective on what could come next for the dollar and hard assets.

In this episode of Little by Little with Andy Schectman:

• Why the United States may favor a higher gold price
  

• The case for $20,000 gold
  

• Why gold, silver, and Bitcoin may need to be repriced
  

• Stablecoins and short-term U.S. Treasuries
  

• The GENIUS Act and America’s debt strategy
  

• Why gold and the U.S. dollar could rise together
  

• The unwinding Japanese yen carry trade
  

• Japan’s influence on global bond markets
  

• The shift from LIBOR to SOFR
  

• The future of the offshore dollar system
  

• Financial sovereignty and global capital flows
  

• Implications for inflation and wealth preservation
  

00:00 Coming Up

01:24 Introduction

03:03 Empire Never Ended Thesis

06:51 LIBOR To SOFR Power Shift

11:24 ARC Alliance And Cycles

15:05 Churchill Gold Reset History

19:18 Trump As Disruptor Strategy

27:30 Japan Yen Carry Trade Key

29:48 Oil War Narrative And Bonds

34:29 Japan Rates and FX Rigging 35:46 Bessent Targets Euro Yen

36:23 Oil Collateral and Shipping Shock

38:59 Post G20 Yield Stress

40:24 Squeezing the Yen Carry

41:18 BVI Trades Exposed

43:10 Never Bet Against BOJ

47:04 QT and Treasury Fallout

48:06 Stablecoins and Curve Control

50:24 Gold Dollar and Two Tier System

57:11 Genius Act and Proxy Gold Buying

01:00:52 Golden Age Endgame

01:03:40 Venezuela and Election Watchlist

01:06:38 Final Thoughts and Where to Follow

https://www.youtube.com/watch?v=QCiQ4oQ4DWk

BREAKING: Gold Can't Be Confiscated In This State Now | Patrick Holland

BREAKING: Gold Can't Be Confiscated In This State Now | Patrick Holland

Liberty and Finance:  9-7-2026

Missouri has enacted a sweeping Constitutional Money Actthat gives gold and silver legal-tender status.

The law also provides protections against state-assisted confiscation, allows employers and employees to agree to compensation in gold and silver, and requires the state to accept certain electronic gold and silver transfers for taxes and services.

Patrick Holland of the Missouri Freedom Initiative explains how grassroots pressure helped overcome political obstacles and why he believes Missouri’s framework could serve as a model for other states.

He also discusses the emerging infrastructure for everyday gold and silver transactions, potential counterfeiting and fraud risks, and why he believes private-market solutions are preferable to state regulation.

Holland urges citizens in other states to study Missouri’s law and work with their own legislators to pursue similar sound-money legislation.

INTERVIEW TIMELINE:

0:00 Intro

1:00 Gold & silver legal tender bill

28:30 Gold & silver counterfeits

33:00 Capital gains on metals

34:30 Missouri Freedom Initiative

https://www.youtube.com/watch?v=eplbLlVTpXQ

China Just Triggered the Biggest Gold and Silver Rally in 50 Years: Luke Groman

China Just Triggered the Biggest Gold and Silver Rally in 50 Years: Luke Groman

Slick Finance:  9-5-2026

The global financial landscape is experiencing a profound transformation, characterized by a steady shift away from traditional dollar-centric foreign exchange reserves.

As nations reevaluate their monetary strategies in an increasingly interconnected yet fractured world, a new global monetary dynamic is taking shape. At the center of this evolution is the enduring appeal of gold, which is rapidly emerging as the preferred neutral reserve asset for sovereign entities seeking stability, security, and independence from legacy financial systems.

Over the past several years, notable shifts have occurred in currency valuations relative to precious metals. For instance, the Chinese yuan has experienced a dramatic depreciation when measured against gold.

This movement reflects a much broader, strategic pivot away from reliance on the US dollar and toward a vision of yuan internationalization that is fundamentally anchored by gold.

Financial analysts, including noted macroeconomic commentator Luke Gromen, have highlighted this ongoing transition. While digital assets like Bitcoin continue to show immense promise for the future of finance, gold’s significantly lower volatility currently cements its position as the dominant choice for sovereign reserve diversification among central banks and major global players.

This changing architecture highlights a stark contrast in international economic strategies. Historically, the prevailing global system relied heavily on the United States’ ability to recycle foreign-held dollars back into domestic treasury securities.

 In contrast, China’s evolving financial framework points toward a system where creditors are incentivized through gold-backed mechanisms.

 In this alternative model, even amidst domestic deflationary pressures, creditors can confidently utilize their yuan holdings to purchase substantial goods and services directly within China, reshaping traditional trade and reserve dynamics.

Concurrently, fiscal and monetary pressures within the United States are mounting toward critical junctures. Driven largely by escalating entitlement obligations and rapidly rising debt servicing costs, the federal fiscal trajectory faces severe stress. To address these compounding challenges, policymakers are increasingly discussing radical potential responses. Among the strategies under consideration are massive treasury buybacks and comprehensive debt restructuring through short-term paper instruments. Intriguingly, some proposals suggest these instruments could potentially be supported by heavily regulated stablecoins operating at artificially low interest rates.

While implementing such aggressive monetary measures might successfully avert an immediate fiscal collapse, it would come with significant long-term consequences. Most notably, this approach risks drastically escalating inflation and fundamentally altering the mechanics of traditional bond markets.

As these large-scale transformations unfold across the international stage, the traditional divide between economic winners and losers is bound to shift. Rather than benefiting legacy financial institutions and governmental elites, the new monetary order anchored by gold suggests a profound redistribution of wealth and economic power, potentially favoring industrial sectors and the broader middle class.

https://www.youtube.com/watch?v=7TSNGwBbrvY

Dutch CB Declares Gold As Ultimate Reserve Asset | Clive Thompson

Dutch CB Declares Gold As Ultimate Reserve Asset | Clive Thompson

Liberty and Finance:  9-3-2026

A major central bank is quietly repositioning its gold for a crisis, and Clive Thompson says investors should be paying close attention.

The Dutch central bank is moving gold reserves toward London and spreading its holdings across multiple locations, explicitly citing crisis preparedness and describing gold as an “anchor of trust” and an ultimate reserve asset for hedging extreme systemic risks.

Thompson also discusses the extreme volatility in gold and silver, shrinking silver inventories, rising industrial demand, and why even a small shift of capital from the enormous global bond market into gold could have an outsized impact on prices.

He warns that a future bond-market crisis could force central banks to intervene and create new money, potentially triggering a major surge in gold.

Thompson also shares what investors should watch now, including central-bank gold buying, Treasury bond disinvestment, stock-market weakness, and signs that capital is beginning to rotate toward precious metals.

INTERVIEW TIMELINE:

0:00 Intro

1:00 Gold repatriation

14:30 Gold market update

25:52 Global bond crisis

27:10 Little Trot books

30:20 Stock market crash

https://www.youtube.com/watch?v=1mevSlstBpM

America's Dollar Was Backed by Gold Until 1971 — Why Everything Costs More Now

America's Dollar Was Backed by Gold Until 1971 — Why Everything Costs More Now

August 2026

In 1971, President Nixon went on live television and made a decision that changed the value of your money forever. He suspended the dollar's convertibility into gold — a move he called "temporary." It's now lasted over fifty years.

Before that night, every US dollar was backed by physical gold sitting in a vault. The world's currencies were anchored to the dollar, and the dollar was anchored to gold at a fixed rate.

It was a promise made at Bretton Woods in 1944 by 44 nations coming out of World War II. That promise held the global economy together for nearly three decades.

But behind the scenes, cracks were forming. America was spending beyond its means — funding wars, expanding social programs, and flooding the world with more dollars than it had gold to back.

France's President de Gaulle called it out publicly and sent warships to collect French gold from New York. Other nations started getting nervous. A full-scale run on the dollar was underway. On August 15, 1971, Nixon closed the gold window.

The dollar was no longer tied to anything tangible. And what followed reshaped the cost of everything — housing, food, gas, education, healthcare.

 The dollar has since lost roughly 87% of its purchasing power. A dollar today buys about 12 cents worth of what it could in 1971.

This video traces the full story — from the Bretton Woods Agreement to the collapse of the gold standard, the birth of the petrodollar system with Saudi Arabia, the explosion of the US money supply, and why your paycheck never seems to stretch far enough.

This isn't just economic history. This is the hidden story behind every price tag you see today.

https://www.youtube.com/watch?v=LVviLa0Nvxo

Monetary RESET Has Begun, But “Performance Gold” Could Be the Biggest Opportunity | Ronald Stöeferle

Monetary RESET Has Begun, But “Performance Gold” Could Be the Biggest Opportunity | Ronald Stöeferle

Miles Franklin Media:  9-1-2026

Michelle Makori, President & Editor-in-Chief of Miles Franklin Media, interviews Ronald-Peter Stöferle, Managing Partner and Fund Manager at Incrementum and co-author of the annual In Gold We Trust report.

 Stöferle explains why gold is undergoing a “creeping remonetization,” driven by central-bank accumulation, geopolitical fragmentation and growing concerns over the global monetary system. He argues that gold’s bull market is not yet in a bubble and reveals why $8,900 gold is now his new base case after his previous $4,800 target was reached ahead of schedule.

The conversation also examines sovereign debt, inflation, de-dollarization and the changing role of gold as a neutral global reserve asset. Stöferle explains why Western institutional investors remain significantly underallocated to gold and why a shift in institutional capital could become an important driver of the next phase of the bull market.

He also discusses silver and mining equities as higher-beta opportunities, the potential role of Bitcoin and commodities in a diversified portfolio, and why the global monetary system could undergo a major reorganization in the years ahead. In this episode of The Real Story:

• Why $8,900 gold is now Stöferle’s base case
  

• Gold’s “creeping remonetization”
  

• Central banks and the new gold-buying cycle
  

• Sovereign debt, inflation and de-dollarization
  

• Why institutions remain underallocated to gold
  

• Silver and miners as higher-beta gold plays
  

• Gold, Bitcoin and commodities in a changing portfolio
  

00:00 Coming Up

01:38 Introduction

03:34 Why Gold Remonetizes

05:59 History Rhymes Again

08:18 Six Vectors Overview

09:04 Central Banks Shift 2022

16:02 Sanctions and Dollar Weaponization

23:21 Bessent Soundbite Breakdown

28:30 Reanchoring With Gold Bonds

33:51 Sponsor Break and Return

38:03 Institutional Demand Gap

43:45 How Allocations Could Rise

48:58 Gold Allocation Framework

50:54 Gold and Bitcoin Allocation

51:14 New 60/40 Outperformance

52:34 Dow Theory Bull Phases

56:14 Why This Bull Isn’t Over

59:16 Gold Targets Reset Higher

01:03:29 Revaluation and Remonetization

01:07:18 Tokenized Gold Reality Check

01:11:07 Miners Catching Up

01:15:07 Why Own Physical Gold

01:17:31 Corporate Gold Standard Idea

01:21:12 What Brings Generalists Back

01:24:29 What Could Break the Thesis

01:28:48 Long View on Gold’s Future

01:33:03 Where to Follow and Closing

https://www.youtube.com/watch?v=YBEe0bRZ4l4&t=11s