Gold bullion
Gold hit record highs in many currencies last year. But gold prices in US dollars have mainly dropped in the past few weeks.
This is not a surprise as in January I posted:
Yes, in certain ways, gold is overvalued. … –gold has hit daily record prices in US dollar terms over 50 times in 2025 (https://economictimes.indiatimes.com/markets/commodities/a-golden-run-after-60-surge-and-over-50-all-time-highs-this-year-whats-next-for-gold-in-2026/articleshow/125800646.cms?utm_source=chatgpt.com&from=mdr). And despite ups and downs, that is not over. … But that does not mean that the price of gold cannot drop, and drop by a lot, for a time. (Thiel B. Gold price predictions for 2026 and beyond. COGwriter, January 6, 2026)
And while gold will hit record prices in US dollar terms, it can drop, and by a lot. It dropped by over $1000 dollars an ounce from its high this year.
Here are a couple of reports about recent prices:
Gold Loses Its Safe-Haven Shine in Middle East War
March 27, 2026
Gold prices, which had been rising sharply since the beginning of the year, have fallen by 15% due to the ongoing Middle East conflict and the Strait of Hormuz blockade. The sharp decline can be attributed to margin calls and the strengthening dollar. In these difficult geopolitical conditions, investors are selling assets to cover losses, which lowers the price of gold. https://sputnikglobe.com/20260327/gold-loses-its-safe-haven-shine-in-middle-east-war-1123905292.htmlGold rises on dip-buying, set for fourth weekly loss as rate hike bets weigh
March 27 (Reuters) – Gold prices rose on Friday on dip-buying but were still headed for a fourth straight weekly loss, with gains capped by rising expectations of U.S. rate hikes as inflation concerns intensify due to the Iran war.Spot gold rose 0.9% to $4,416.90 per ounce as of 9:34 a.m. ET (1334 GMT) but was still set for a weekly loss of 1.6% after touching a four-month low of $4,097.99 earlier in the week. …“Gold has been on a bit of a downward trend in recent times, and we’ve seen investors kind of take profit, which is providing it some support,” said Fawad Razaqzada, market analyst at City Index and FOREX.com.“But I do fear that gold could potentially resume a lower trajectory, given that we’ve seen renewed strength in crude oil prices and the U.S. dollar also finding support against major currencies,” he added.Oil prices held above $110 per barrel despite U.S. President Donald Trump extending a deadline for Iran to reopen the Strait of Hormuz after Tehran rejected a 15-point U.S. proposal to end the fighting.The war, now in its fourth week, has spread across the Middle East, hitting the global economy with soaring energy and fertiliser prices that have fuelled inflation fears.Rising inflation has shifted the Federal Reserve outlook towards potential rate hikes, which typically weigh on gold by increasing the opportunity cost of holding the non-yielding asset. https://www.reuters.com/world/india/gold-rises-softer-dollar-track-fourth-weekly-drop-2026-03-27/
The US dollar was once backed by gold.
However, going as far back as 1961, the USA was starting to not have enough gold to back its dollar, the Plain Truth reported:
Plain Truth, February 1961
Germany, Japan have the largest surpluses of GOLD and DOLLARS…Rich Uncle {Sam} has the greatest deficit in governmental history and a GREATER DEBT than all the REST OF THE WORLD COMBINED!…
Vast foreign aid programs drain the U.S. Treasury…American spending to supply services and to support our troops in foreign countries and military installations around the world amounts to … dollars flowing out of the frightened U.S. Treasury. All of these factors, combined with heavy taxes, gigantic public and private debt, and no gold backing for our own currency if foreign investors demanded gold for their dollars, adds up to the staggering revelation that the U.S., richest nation in the world, is bordering on bankruptcy! (Hill DJ. What the US Gold Crisis Means to You. Plain Truth. February 1961, p. 9).
France did finally cash in dollars for gold and this caused a crisis in the USA.
The USA went off the gold standard completely in 1971. About the same time it made a deal with Saudi Arabia to price oil in dollars. So, while this prevented “foreigners” from being able to redeem US dollars for something from the USA treasury, instead it meant that dollars could be used to buy oil. As other (mostly smaller) oil producers followed Saudi Arabia’s lead, this has served to support the US dollar for several decades. But that arrangement, known as petrodollars, is also at risk. Here is a post from a couple of days ago: Iran war is pushing many away from the ‘petrodollar’.
The move away from the petrodollar, the fact that the US dollar is not backed by gold, sanction and tariff policies of the US government, along with massive debt, has pushed many countries to look away from the US dollar–and some are moving more towards gold, despite the recent drops in price.
The old Worldwide Church of God published the following in the old Good News magazine:
Good News, Oct-Nov 1979Of course, since gold is regarded as a disaster hedge by many investors, prudence might dictate that perhaps a small fraction of your liquid assets be in gold: (Caulkins J. WHEN MONEY FAILS. Good News, October-November 1979)
Those in Russia, China, India, the Middle East, and Europe are looking more towards gold, and less towards the USA dollar to back their economies and their currencies.
Back in 1971, the Plain Truth mentioned gold and that a currency coming out of Europe would replace the USA dollar:
Plain Truth, October 1971FOR 40 YEARS, (1931 to 1971) the American dollar reigned supreme in world trade and finance. From 1945 to 1958, the dollar was considered better than gold to most developing economies. But by 1958 it was becoming evident that the dollar was weakening.
The United States, a war-time haven for three fourths of the world’s gold, began changing the earmarks of the gold buried in the Federal Reserve Bank in New York City, and in Fort Knox, Kentucky, from “USA” to “France,” “Germany” and other nations. Ten years later, in 1968, claims on U. S. gold were running into the millions of dollars per day. More than $12 billion (half) of the U. S. gold was drained between 1958 and 1968, and much of that came in the last hectic months before March 1968, when the U. S. temporarily closed the gold window. …
On August 15, 1971, President Nixon revealed his new economic plan. One part of the strategy was to cut loose the dollar from gold, in effect letting it “float” in foreign transactions until natural market pressure would decide its best value…
The European Common Currency appears to be the most likely successor to the dollar in this long line of monetary dynasties. Europe is the only continent with sufficient gold backing…
… and What About Gold?
The gold standard is not sacred. It is only about 100 years old in the history of man, a product of evolution as much as any social institution. But in a world of sovereign powers, there must be some standard to finance international trade and domestic currency. Gold has the confidence of more people than any other standard, especially in Europe. (Alexander G. America faces “The Dollar Crisis”. Plain Truth magazine, October 1971, pp. 3-4)
Is Europe the continent hoping to have enough gold backing for its own currency still today?
Yes!
The Bible shows that Babylonian European Beast power will control a lot of gold.
The Continuing Church of God (CCOG) has the following video on our Bible News Prophecy YouTube channel:
Gold is so valuable it is called a precious metal. What nation has the most of it? Is there an area of nations with more? Will gold last longer than the USA dollar? Are there properties about the Beast and/or the Antichrist in the Bible that show that the European Babylonian Beast power will amass gold during the time of the Great Tribulation? Are there Eastern Orthodox prophecies that look forward to this? Are there biblical and Roman Catholic prophecies that warn against this? Are European central banks already accumulating gold? Did Swiss America state that some central banks are leaning towards a gold standard? Might the coming King of the North accumulate gold to use to help shore up his currency after the demise of the US dollar? Dr. Thiel addresses these issues and more.
Here is a link to the sermonette video: Beast Prophecies and European Gold.
In April of 2021, the Continuing Church of God (CCOG) put out the following video on our Bible News Prophecy YouTube channel:
China introduced something that was called the gold-petro-yuan back in 2018. Since then, the global share of US dollar-dominated exchange reserves have dropped to 59.0%. In April 2021, China became the first major economy to unleash a Central Bank Digital Currency. China also has given its banks permission to import large amounts of gold. Is China preparing for a gold-backed yuan to push aside the US dollar or to help it survive a US dollar cataclysm? Are other nations preparing to push the US dollar aside? Do Europeans seem to have the most gold? Are Europeans prophesied to gain more gold? Is the US debt trajectory sustainable per Fed Chairman Jerome Powell? Does the Bible warn of the end coming to the highly indebted in Habakkuk 2:6-8? Why does it look like a gold-backed currency will replace the US dollar? Will the US dollar, ultimately, become essentially worthless? Dr Thiel addresses these issues and more.
Here is a link to our video: Gold Backed Currency to Replace the US Dollar?
It should be noted that one day, gold itself will be worthless. Notice:
19 They will throw their silver into the streets, And their gold will be like refuse; Their silver and their gold will not be able to deliver them In the day of the wrath of the Lord; They will not satisfy their souls, Nor fill their stomachs, Because it became their stumbling block of iniquity. (Ezekiel 7:19).
This is probably because gold and silver cannot be eaten (in times of massive and severe food shortages many people will not be interested in it) and because of the fact that if nuclear weapons are exploded, and people are ill or dying from radiation sickness, that they will not want to have gold near them. Notice the following Q&A:
If exposed to radiation, does gold become radioactive?…
Gold has only one stable isotope, so all natural gold has an atomic weight of about 197 (called Au- 197), and this isotope has a reasonably high neutron activation cross- section. So exploding a nuclear weapon would probably lead to a lot of radioactive gold. However, there is only one isotope of gold that has a half-life of more than a few days (Au-195, 186 days), and it is impossible to produce this isotope by neutron irradiation. So any radioactive gold would lose its induced radioactivity within a month or so. Although a nuclear weapon is not a good way to turn gold radioactive, you should also consider that most gold deposits have only a few ounces of gold for each ton of rock that is mined. So setting off a nuclear weapon in the middle of a gold field could still be disruptive by turning much of the rest of the rock radioactive, making it difficult to mine. Radioactivity levels would probably be dangerous for a few weeks or so, but regulations would restrict access to this area for years or decades. (Andrew Karam, Radiation Safety Officer, Area of science: Physics ID: 1046906605.Ph. If exposed to radiation, does gold become radioactive? Date: Thu Mar 6 10:56:43 2003 http://www.madsci.org/posts/archives/2003-03/1046983737.Ph.r.html viewed 05/20/10)
Thus, while gold is likely have value for at least a couple of years after the start of the Great Tribulation, when times are bad enough and people are dying from and/or are ill from radiation sickness, they may be inclined to throw gold into the streets (something similar seems also to be true about silver).
But again, gold will have value after the US dollar is worthless.
Here is a link to a 2025 video:
Is World War Three coming soon? Changes in the world order are rare, history-defining events—with massive implications, both geopolitical and financial. Is owning gold by Christians for the unexpected as Joel Rosenberg has publicly stated or, perhaps, for those who believe biblical prophecies, for the expected? Will the US Dollar collapse? In a word, yes. Could the USA be the highly indebted nation that Habakkuk 2:6-8 refers to? WWIII will mean the end of the USA dollar when that nation is conquered per Daniel 11:39, whereas gold will continue to have value per Daniel 11:43 and the 18th chapter of the Book of Revelation. Prophecy indicates that the massive debt of the USA will result in the take over of the USA (Habakkuk 2). While gold will continue to have value after the destruction of the US Dollar, we should not put our confidence in either. Will gold one day be worthless? Put your confidence in God and His Word. Seek first the Kingdom of God (Matthew 6:33).
Here is a link to our video: WWIII, Gold, and the Collapse of the Dollar.
Gold may go further down, but it is not out. Prophecies in the 11th chapter of Daniel and the 18th chapter of the Book of Revelation point to gold having value years after the US and its dollar are gone.
So, yes, the price of gold will fluctuate. Yet the time is coming that the US dollar will be worth no more than the cotton-type paper it is printed on.
That said, as Christians, we are to focus on the spiritual. But the Bible does use the analogy of gold for God’s people. Related to that, the Continuing Church of God recently put out the following sermon on its ContinuingCOG channel:
1:15:30Belief in Jesus is vitally important (cf. Acts 16:31). But is Christianity mainly about how you feel about your relationship with Jesus like some seem to teach? Are Christians to stay as they are or strive for perfection? Are we to strive to keep the Ten Commandments? Are Christians supposed to obey? What about good works? Are there biblical benefits from suffering, being refined like gold in the fire? Does the Bible sometimes use gold as an analogy for Christians? What are some physical properties of gold? What is character? Why is it important to build it in this life? What is sin? What about love and giving love in the age to come after the resurrection? Does God want godly offspring? Is righteous character more valuable that physical gold? Dr. Thiel addresses these questions and more in this sermon.
Here is a link to the sermon: Building Golden Character.
Some items of possibly related interest may include:
Building Character: Going on to Perfection Once you have accepted Jesus, do you need to strive for perfection and build character? Three related videos sermon are available: Believe Jesus: Obey and Build Character, Building Golden Character, and Going on to perfection and building character.There is a Spanish language video on this titled E Construyendo el carácter: avanzando hacia la perfección–here is a link: https://youtu.be/WzIpouooGE4.
The MYSTERY of GOD’s PLAN: Why Did God Create Anything? Why Did God Make You? This free online book helps answers some of the biggest questions that human have, including the biblical meaning of life. Here is a link to three related sermons: Mysteries of God’s Plan, Mysteries of Truth, Sin, Rest, Suffering, and God’s Plan, Mystery of Race, and The Mystery of YOU. Here is a link to two videos in Spanish: El Misterio del Plan de Dios and El Misterio de Satanás, el Misterio de la Verdad, el Misterio del Reposo.
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What About Silver? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold and silver? Two videos of related interest may be: Germany, Gold, and the US Dollar and Silver, Science, and Scripture.
Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America? Where did those people come from? Can you totally rely on DNA? Do you really know what will happen to Europe and the English-speaking peoples? What about the peoples of Africa, Asia, South America, and the islands? This free online book provides scriptural, scientific, historical references, and commentary to address those matters. Here are links to related sermons: Lost tribes, the Bible, and DNA; Lost tribes, prophecies, and identifications; 11 Tribes, 144,000, and Multitudes; Israel, Jeremiah, Tea Tephi, and British Royalty; Gentile European Beast; Royal Succession, Samaria, and Prophecies; Asia, Islands, Latin America, Africa, and Armageddon; When Will the End of the Age Come?; Rise of the Prophesied King of the North; Christian Persecution from the Beast; WWIII and the Coming New World Order; and Woes, WWIV, and the Good News of the Kingdom of God.