In-depth analysis and insights on gold, silver, commodities, inflation, macro economics, Austrian Economics, Bitcoin and mining. Charts and long-form threads.
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May 20
๐จ The wait is over!
The In Gold We Trust report 2026 has just been released, marking the 20th edition of this landmark publication. ๐ช๐
Dive into the latest insights on gold, silver, commodities, monetary shifts & the future of the global financial system. ๐๐
๐ฅ Get your free copy fresh off the presses here:
ingoldwetrust.report/in-goldโฆ
#InGoldWeTrust #20YearAnniversary #GoldReport #GoldInvesting #SilverRally #PreciousMetals #SoundMoney #Commodities #DeDollarization #MonetarySystem #FinancialMarkets #GlobalEconomy #Geopolitics #AustrianEconomics #MacroResearch #MonetaryFuture #IGWT26
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A 27% drop in gold looks like a top. Twice before, a crash like this was the start of the next leg up.
In 2008, as Lehman triggered margin calls, gold fell 29%. What followed was QE1 through QE3 and a tripling of the price.
In 2020, the pandemic crash took it down 12%. What followed was an unprecedented wave of fiscal and monetary expansion, and a rise of over 70%.
This year, the drawdown was 27%.
The bull market still has considerable room to run.
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Gold is a buoy floating on a money supply that is permanently inflated.
@MarkValek's analogy, and a good one: gold does not climb, the water rises.
Mark Valek joins @studentofcycles and Bjรถrn Paffrath. English auto-dub on YouTube.
Jun 10
Super Plauscherl รผber Gold, Geld und die Welt mit @MarkValek, @studentofcycles und Bjรถrn!
youtu.be/cf2WdRH3Ico?si=2J1yโฆ
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In Gold We Trust retweeted
Gold is under pressure again this week, the 4,000 level in focus ahead of the Fed.
The selloff is not a crack in the bull case. It is one stage of it.
The pattern repeats: energy shock, inflation, bond stress, credit repricing, forced selling, then central bank intervention. Gold gets sold in the forced-selling stage, 27% off its high this cycle, because in a squeeze you sell what you can, not what you want.
Then the intervention arrives, and the new liquidity reprices against gold.
The drawdown and the next leg up are the same event, seen at two moments.
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IGWT Precious Metals Recap, week of June 12
Incrementum Active Aurum Signal: Defensive ๐ก๏ธ
W/W change:
๐ฅ Gold (USD): 4,218.77 | -2.54%
๐ฅ Silver (USD): 67.98 | 0.24%
โ๏ธ G/S Ratio: 62.06 | -1.77
โ๏ธ GDX (USD): 80.03 | 1.51%
โ๏ธ SIL (USD): 81.68 | 3.03%
Two inflation prints in two days: CPI at 4.2%, PPI at 6.5% - largest since November 2022. Miners and silver held while gold pulled back. This is positioning ahead of Warsh's first FOMC on June 16-17. The fundamentals haven't moved.
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New to the Signal? The Incrementum Active Aurum Signal is our rules-based model for timing exposure to gold mining equities - three modes: Offensive, Neutral, Defensive.
Full explainer: ingoldwetrust.report/journalโฆ
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In Gold We Trust retweeted
No further comment necessary
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In Gold We Trust retweeted
Jun 12
US producer prices (PPI) rose 6.5% over the past year, the fastest annual rise since 2022. The dollar is losing value in real time.
Measured in gold, that loss is not new. The dollar is down 85.3% against gold since 2007. The euro, 87.4%.
Inflation indexes measure money against goods. Gold measures it against money that cannot be printed.
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In Gold We Trust retweeted
Jun 12
Summer consolidation. Debt and debasement haven't gone anywhere.
Jun 12
The case for gold was never the last few weeks of price action.
It is the debt, the debasement, and a monetary order in transition. None of that reversed.
@RonStoeferle and @JrMiningGuy on where the thesis stands.
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In Gold We Trust retweeted
Jun 12
.@MiningVisuals brought this one to life. The backing of US debt by gold has been draining away for eighty years. The chart is the whole argument.
Jun 12
US Gold Reserves, as a % of US Public Debt, 01/1915โ04/2026
In the early 1940s, US gold reserves covered 51% of US public debt. By the end of 2025, this figure stood at approximately 3%.
The chart illustrates this long-term trend and details the implied gold prices required if backing were to return to historical benchmarks.
The complete chart and accompanying analysis are available on page 64 of the In Gold We Trust Report 2026: ingoldwetrust.report/in-goldโฆ
Make sure to follow our partners over at @IGWTreport for more!
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In Gold We Trust retweeted
Jun 11
When the tape gets noisy, it helps to have your bearings.
Find your way through June's markets with the Monthly Gold Compass.
Jun 10
Your monthly chartbook for the world of gold: concise, visual, and built for orientation.
The June Monthly Gold Compass is out.
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In Gold We Trust retweeted
Jun 12
The case for gold was never the last few weeks of price action.
It is the debt, the debasement, and a monetary order in transition. None of that reversed.
@RonStoeferle and @JrMiningGuy on where the thesis stands.
Jun 11
Gold und Silber stehen unter Druck. Ist der Bullenmarkt vorbei oder nur in der Sommer-Konsolidierung?
Ich habe mit @RonStoeferle รผber den Gold-Crash, die 4.000-$-Marke, Inflation, Renditen und das Geldsystem gesprochen.
Jetzt online.
๐บyoutu.be/x6ZjoFZXkNs
#Gold #Silber
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In Gold We Trust retweeted
"the barbaric relic strikes back"
Jun 11
Central banks that once dismissed gold as a barbaric relic have now bought more than 7,000 tonnes since 2010. Yet privately held gold still represents just 2.7% of global financial assets.
Gold is being remonetized as institutional trust in governments, central banks, and the fiat system continues to erode.
These dynamics, their drivers, and potential outcomes are unpacked in the first Nugget from the In Gold We Trust report 2026, "Back to the Monetary Future."
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Jun 12
Das erste IGWT 2026 Nugget โEinleitung: Back to the Monetary Future" ist online!
Jetzt lesen unter ingoldwetrust.report/nuggetsโฆ
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In Gold We Trust retweeted
Jun 10
.@paulwinfree's Fed chapter wants the dollar defined in gold again.
The chart shows what the dollar lost against gold since 1971.
Yet the US books its gold at 42.22 an ounce, frozen since 1973.
Mark it to market: 11.04 billion becomes 1.2 trillion.
Revaluation is the books catching up.
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In Gold We Trust retweeted
Jun 11
Priced in gold, the dollar said goodbye to 2% a long time ago. CPI is just catching up to the tape.
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In Gold We Trust retweeted
Jun 12
The chart is the loudest argument and the weakest one. Debasement never shows up on a daily candle, only in the years you stop paying attention.
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In Gold We Trust retweeted
Jun 12
US Gold Reserves, as a % of US Public Debt, 01/1915โ04/2026
In the early 1940s, US gold reserves covered 51% of US public debt. By the end of 2025, this figure stood at approximately 3%.
The chart illustrates this long-term trend and details the implied gold prices required if backing were to return to historical benchmarks.
The complete chart and accompanying analysis are available on page 64 of the In Gold We Trust Report 2026: ingoldwetrust.report/in-goldโฆ
Make sure to follow our partners over at @IGWTreport for more!
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