Eight Reasons to Buy Gold Today
Eight Reasons to Buy Gold Today By Nick Giambruno for Casey Research
Justin’s note: If you read yesterday’s Dispatch, you know gold is ripping higher…
And as you’ll see today and tomorrow, this trend is only beginning.
Casey Report chief analyst Nick Giambruno recently laid out eight specific catalysts that will send gold on an epic rally… its biggest in 50 years.
He says we’re on the cusp of a new monetary era… one that will put gold back in its rightful place at the center of the international monetary system. And now is the time to take advantage.
This is huge news. And I wanted to share it with you right away.
So today and tomorrow, we’ll reveal the eight catalysts. As you’ll see, they’re all lining up at the perfect moment…
By Nick Giambruno, chief analyst, The Casey Report
An epic gold bull market is on the menu for 2019.
I’m not talking about a garden-variety cyclical gold bull market, but rather one of the biggest gold manias in history.
This gold mania will be riding the wave of an incredibly powerful trend… the re-monetization of gold.
The last time the international monetary system experienced a paradigm shift of this magnitude was in 1971.
Then, the dollar price of gold skyrocketed over 2,300%.
It shot from $35 per ounce to a high of $850 in 1980. Gold mining stocks did even better.
Today, gold is still bouncing around its lows. Gold mining stocks are still very cheap. I expect returns to be at least as great as they were during the last paradigm shift.
So let’s get right into it, starting with the first four catalysts that will send gold prices higher…
No. 1: Basel III Moves Gold Closer to Officially Being Money Again
The Bank for International Settlements (BIS) is located in Basel, Switzerland. It’s often referred to as “the bank of central banks.” Its members consist of 60 central banks from the world’s largest economies.
It facilitates transactions – notably gold transactions – between central banks, the biggest players in the gold market.
The BIS also issues Basel Accords, or a set of recommendations for regulations that set the standards for the global banking industry.
On April 1, 2019, Basel III went into effect around the world.
Buried among what was mostly confusing jargon was something of huge significance for gold:
A 0% risk weight will apply to (i) cash owned and held at the bank or in transit; and (ii) gold bullion held at the bank or held in another bank on an allocated basis, to the extent the gold bullion assets are backed by gold bullion liabilities.