Gold Prices Near All-time High
Gold prices are headed toward record highs. After JPMorgan Chase ceo Jamie Dimon announced on April 4 that the banking crisis is not over, gold prices hit $2,042 an ounce. That is not as high as the $2,069 per ounce record that gold prices hit in 2020, but the shiny, yellow metal may keep getting more valuable. Analysts at the Bank of America are expecting a two-year bull run, which could push gold prices above $2,500 an ounce.
Dollar devaluation: Ninety years ago, on April 5, 1933, President Franklin Delano Roosevelt signed Executive Order 6102, which required gold coins, bullion and certificates to be delivered to the federal government. This marked the beginning of the end of the gold standard. On that fateful day, gold was worth $20.67 per ounce—meaning that gold prices have gone up nearly 100-fold in the past 90 years as dollars become less and less valuable.
Financial collapse: Bible prophecy foretells the collapse of the United States and suggests gold may play a part. “All hands shall be feeble, and all knees shall be weak as water. They shall also gird themselves with sackcloth, and horror shall cover them; and shame shall be upon all faces, and baldness upon all their heads. They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the Lord: they shall not satisfy their souls, neither fill their bowels …” (Ezekiel 7:17-19).
Reserve currency: Ezekiel 7 is about a time after the American, British and Jewish peoples have been carried away captive. Ezekiel warns that all the gold and silver in the world won’t be able to buy food during this terrible period. Hence, people cast their gold into the streets.
But for people to throw silver and gold into the streets, they had to own some in the first place. Does this passage indicate that America’s enemies are about to start using gold-backed currencies once again? China and the European Union have large enough gold hoards to do so if desired, and America’s financial mistakes are currently driving up demand for gold as people realize that the dollar is just paper.
Learn more: Read Ezekiel—The End-Time Prophet, by Trumpet editor in chief Gerald Flurry.