Gold Prices Hit All-time High

Gold prices hit an all-time high on March 21 after the United States government announced that debt held by the public is expected to grow to 166 percent of gross domestic product by 2054.

  • Gold is currently trading at more than $2,200 per ounce.
  • Prices could rise to $2,300 per ounce in the second half of 2024.

Among central banks, the People’s Bank of China was the largest buyer of gold last year as Beijing looks to move away from the dollar.

Dollar devaluation: Ninety years ago, on April 5, 1933, President Franklin Delano Roosevelt signed Executive Order 6102, requiring 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 gold prices have increased more than 100-fold in nine decades as dollars have become less valuable.

Financial collapse: Bible prophecy foretells the collapse of the U.S., and it 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 will cast their gold into the streets.

But for people to throw silver and gold into the streets, they must own some. Does this passage indicate that America’s enemies will use 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 driving up demand for gold as people realize the dollar is just paper.

Learn more: Read “Buying Black Gold Without Greenbacks.”