{"id":90888,"date":"2024-10-06T08:00:25","date_gmt":"2024-10-06T16:00:25","guid":{"rendered":"https:\/\/www.cogwriter.com\/news\/?p=90888"},"modified":"2024-10-06T05:27:00","modified_gmt":"2024-10-06T13:27:00","slug":"newsweek-gold-price-closes-in-on-3000-milestone","status":"publish","type":"post","link":"https:\/\/www.cogwriter.com\/news\/prophecy\/newsweek-gold-price-closes-in-on-3000-milestone\/","title":{"rendered":"Newsweek: Gold Price Closes In on $3,000 Milestone"},"content":{"rendered":"

\"\"
\nGold bullion<\/em><\/p>\n

COGwriter<\/a><\/p>\n

Gold is in the news. Newsweek published the following:<\/p>\n

\n

Gold Price Closes In on $3,000 Milestone<\/h2>\n

October 6, 2024<\/p>\n

Gold could reach $3,000 by the end of 2024 or sooner after several months of rising prices.<\/p>\n

GoldPrice.org says that there has been a 45.93 percent increase in the price of an ounce over the past year, with a 6.58 percent increase in the last 30 days. As of October 3, the price is $2,642.45, and experts believe it will climb to a record $3,000 before the end of 2024.<\/p>\n

“In March 2024, gold hit $2,070 and, even though the last six months have seen pushbacks and dips, gold continues to climb,” Nick Fulton, managing partner at USA Pawn, told Newsweek<\/em>. “When we saw $2,600 an ounce gold, I thought $2,800 by the end of the year. Now? We could see gold at $3,000 an ounce happen in a 30-day time span.” https:\/\/www.newsweek.com\/gold-prices-close-3000-milestone-1963074<\/a><\/p><\/blockquote>\n

As many of you are aware, I have the following statement on 293 of the print edition and page 317 of online version of free book from 2023, Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America?<\/a>:<\/p>\n

Gold will set records in U.S. dollar terms. <\/em><\/p><\/blockquote>\n

\n

Several times in the past year, gold has set records in US dollar terms since that book was published.<\/p>\n

That said, experience teaches us that gold can also go down in value, so investors should always be cautious.<\/p>\n

Poland has increased its gold reserves:<\/p>\n

\n

Poland now has more gold reserves than the UK<\/h2>\n

October 4, 2024<\/p>\n

Adam Glapi\u0144ski, president of the National Bank of Poland, announced at a press conference on Thursday that \u201con behalf of all Poles,\u201d the bank now has 420 tons of gold, making it part of the \u201cexclusive club of the largest holders of gold reserves in the world,\u201d reports Do Rzeczy<\/a>. …<\/p>\n

\u201cWe have symbolically exceeded the resources of Great Britain, which has always been a kind of reference point,\u201c the NBP head said, adding that the gold purchases would continue. He also emphasized the importance of gold reserves as an economic stabilizer and state reserve.<\/p>\n

\u201cIn accordance with the resolution of the board, we are striving for 20 percent of our currency reserves to be in gold. Then, we will find ourselves in such a close, exclusive club of the best economies in the world,\u201d Glapi\u0144ski said. https:\/\/rmx.news\/article\/poland-now-has-more-gold-reserves-than-the-uk\/<\/a><\/p><\/blockquote>\n

While wars, rumors of war, and economic factors impact the price of gold, that is not all–US debt and sanctions policies have also been a factor.<\/p>\n

That said, saw the following claim today:<\/p>\n

\n

Bitcoin & Gold: The Ultimate Hedges Against Chaos<\/a><\/h2>\n<\/blockquote>\n<\/div>\n

Of course, that is not true. Truly trusting in Jesus is.<\/p>\n

Now, related to gold and crypto, Forbes<\/em> posted the following:<\/p>\n

\n

The Fed Quietly \u2018Admits\u2019 Gold Is Replacing The Dollar As Collapse \u2018Fear\u2019 Predicted To Trigger A $15.7 Trillion ETF Bitcoin Price Flip<\/h2>\n

Updated 06\/04\/24<\/p>\n

Now,\u00a0after U.S. Treasury secretary Janet Yellen issued a serious warning over the swelling $34 trillion U.S. debt pile<\/a>, former billionaire and All In podcast “bestie” Chamath Palihapitiya has predicted bitcoin could “completely replace gold” as countries adopt it\u2014potentially pushing it’s market capitalization toward gold’s $15.7 trillion. https:\/\/www.forbes.com\/sites\/digital-assets\/2024\/06\/03\/sudden-us-dollar-collapse-fear-predicted-to-trigger-a-157-trillion-etf-bitcoin-price-gold-flip-as-countries-go-dual-currency\/?sh=254f150b522d<\/a><\/p><\/blockquote>\n

While the USA dollar will collapse and gold will rise, do not believe that Bitcoin will replace gold. Bitcoin exists only as software, whereas gold is an actual element.<\/p>\n

There is a limited amount of available gold and it differs from cash and cyrpto currencies:<\/p>\n

\n

Crypto has made its own place in the world by making an amazing leap forward as a medium of exchange, with thus far unrivaled capabilities. But crypto is not gold, and can never be gold. I suggest that BTC and Crypto are better as a medium of exchange, while gold is a better medium for storing value.<\/p>\n

This is not because of some dogma I have for the metal. Some will trot out \u201cyou are just talking your book\u201d when I mention this.<\/p>\n

The simple fact is, out of the near 185,000 tons of estimated above ground gold, someone owns,\u00a0all of it<\/strong>. Every fine gram of gold above ground belongs to someone already, whether that be in the form of bars, coins, jewelry, the thin layer on astronauts helmets that protect them from solar radiation, or the gold plated contacts in the mining rigs used to mine crypto. New gold mined from the ground is usually spoken for before it ever hits a refinery. My job as a physical gold fund manager is not to convince people to buy gold, that job has already been done.<\/p>\n

The reason crypto can never replace gold lies in physics: Gold cannot be destroyed<\/strong><\/h3>\n

Everything else can. Computers. Exchanges. Mining Pools. Wallets. Powergrids. Internets. Nations. You name it. If you blew up the planet earth, the gold atoms would still be there.<\/p>\n

Unlike anything else you can invest or store money in, gold doesn\u2019t rely on any external force for this to continue to be true over time. It is sort of like a battery with no expiration date.<\/p>\n

Gold exists as atomic number 79 on the periodic table. It is chemically inert and does not interact with oxygen. It is the only element with properties that make it completely immune to the forces of entropy. The only way to destroy it would be to fire it into the sun, or somehow put it in the middle of an equivalent fusion reaction that took the atoms apart at a subatomic level.\u00a0<\/strong>(Stanczyk A. A Gold Guys View of Crypto, Bitcoin, and Blockchain. Medium.com, December 10, 2017 https:\/\/medium.com\/@alex.stanczyk\/a-gold-guys-view-of-crypto-bitcoin-and-blockchain-26e42eeab6b7)<\/p>\n<\/blockquote>\n

185,000 tons equates to less than one ounce of gold for every person on earth.<\/p>\n

Gold can be viewed as a “universally accepted” form of currency with a limited supply.<\/p>\n

The same cannot always be said of paper currency. There was a time when vendors in South America refused to accept dollars from tourists. Some also view gold simply as portfolio “insurance”. The price of gold has 2 elements: the current value of the currency used to purchase it, and the current demand for the gold. Because of problems with paper currencies, like the US dollar:<\/p>\n

\u201cGold has become, for all intents, the world\u2019s second reserve currency<\/strong>,\u201d Dennis Gartman, an economist and the editor of the Suffolk, Virginia-based Gartman Letter, said in a Bloomberg Television interview…<\/p>\n

http:\/\/www.bloomberg.com\/apps\/news?pid=20601082&sid=acerPa4tlqXg&refer=canada<\/a><\/p><\/blockquote>\n

James Hickman sent out the following:<\/p>\n

\n

Gold will soon displace the US dollar, and Americans are missing out …<\/h2>\n

June 3, 2024<\/p>\n

… the US has been the world\u2019s #1 economy for the past five decades. But the cracks are obvious.<\/p>\n

The US federal debt is a national embarrassment. At $35 trillion, the debt is far larger than the entire US economy\u2026 and it gets worse every year.<\/p>\n

The US government is also completely dysfunctional. The vitriol and enmity, among the parties and within the parties, is so extreme that virtually nothing productive or beneficial ever takes place. The business of government now is merely two sides screaming that the other is a threat to democracy.<\/p>\n

The President barely knows where he is half the time, and the other half he spends shredding the Constitution to engage in some anti-capitalist, inflationary, fanatical woke climate agenda.<\/p>\n

Sadly, this isn\u2019t a one-time blip. …<\/p>\n

Frankly it is exceedingly difficult to believe that, in light of America\u2019s declining power and prestige, the rest of the world will continue accepting the US dollar as the global reserve currency for much longer.<\/p>\n

We\u2019re already seeing signs of this change; plenty of countries are starting to trade with one another in different currencies, including Chinese renminbi and Indian rupee, and this trend will likely accelerate over the next several years.<\/p>\n

I think it\u2019s even possible there could be an\u00a0event<\/i>\u00a0of some sort– perhaps the US government defaults on its debt, or there\u2019s even a shooting war or cyberattack– which triggers a new Bretton Woods style conference.<\/p>\n

The key difference between now and 1944 is that there was only one option back then– the US. And pretty much everyone had confidence in America.<\/p>\n

That\u2019s not the case today. Few rational people have the same level of confidence in the US government. Yet almost no one trusts the Chinese either.<\/p>\n

But just like 1944, there is an obvious solution\u2026 and one that everyone already trusts: gold.<\/p>\n

Nearly every country already holds gold as a reserve asset, so there would be very little change to the way they currently do business.<\/p>\n

I\u2019ve written about this before– I believe this is why so many central banks around the world have been on a gold-buying spree. In fact, this is THE reason why gold is near its all-time high: central banks have been buying it by the metric ton.<\/p>\n<\/blockquote>\n

\n

But unlike the USA dollar and crypto-currencies, biblically we know that gold will have value well after the Great Tribulation starts.<\/p>\n

Notice prophecies in Daniel 11:39-43, Zechariah 14:14, and Revelation 17:4 and 18:12,16:<\/p>\n

40 “At the time of the end…43 He shall have power over the treasures of gold and silver (Daniel 11:40,43)<\/p>\n

14… And the wealth of all the surrounding nations
\nShall be gathered together:
\nGold, silver, and apparel in great abundance. (Zechariah 14:14)<\/p>\n

12 … merchandise of gold and silver, precious stones and pearls … 16 … ‘Alas, alas, that great city that was clothed in fine linen, purple, and scarlet, and adorned with gold and precious stones and pearls! (Revelation 18:12, 16)<\/p>\n

4 The woman was arrayed in purple and scarlet, and adorned with gold and precious stones and pearls (Revelation 17:4)<\/p><\/blockquote>\n

There are no similar statements backing up the future value of paper items, like the US dollar or the British pound (scripture, indirectly, teaches their elimination, for details see Anglo – America in Prophecy & the Lost Tribes of Israel<\/a>). Daniel 11:24 shows that the European Beast leader mentioned in Daniel 11:40-43 will somehow also be accumulating wealth prior to this time, and that may involve gold accumulation (cf. Daniel 11:38). Perhaps to back up a European-supported currency, he also may end up with personal and\/or national gold reserves and\/or wealth from the Vatican. The Vatican has a vast amount of wealth and is prophesied to be improperly involved with the kings of the earth in the end times per Revelation 17.<\/p>\n

Related to gold and the BRICS, including China, notice the following which is also in our free book Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America?:<\/a><\/p>\n

<\/p>\n

Since many are now questioning the role of the U.S.A.\u00a0dollar as the world\u2019s reserve currency, more are looking into other currencies as well as gold.<\/p><\/blockquote>\n

Gold will set records in U.S. dollar terms. <\/em><\/p>\n

In 2017, I also published that last statement in my book related to Donald Trump, and it did hit records in July and August in 2020. [i]<\/a> Now, despite having ups and downs, gold will set further records in U.S. dollar terms in the relatively near future.<\/p>\n

It has been asserted that:<\/p>\n

The only replacement for fiat {currency} is a currency credibly backed by gold.[ii]<\/a><\/p>\n

Although the above can be debated, the reality is after the elimination of the U.S.A. and the crash of its dollar, the world will want something more stable than unbacked currency. Thus, it is likely that some type of gold-backed currency will emerge as the preferred reserve currency in the world.<\/p>\n

It has long been reported that various nations around the world are already in the process of accumulating gold to one day overthrow the U.S. dollar\u2014and that the \u201cU.S. is unprepared for this strategic alternative to dollar dominance.\u201d[iii]<\/a> Various steps were also taken in 2022.[iv]<\/a><\/p>\n

When the U.S.\u00a0dollar totally collapses people all around the world will consider that even if the euro (or something similar)\u00a0is strong, having a more gold-backed currency would be safer.<\/p>\n

The collapse of the U.S.A. dollar will shake a lot of the world\u2019s confidence in non-gold backed currencies. The Europeans do not have to have a perfect currency, only one that is perceived to be in better shape than the U.S.A. dollar or various other currencies.<\/p>\n

Having the European power acquiring more gold\u00a0to back the Euro or possibly another future European currency (that might potentially replace the Euro or even a basket of currencies) may greatly increase European credibility, prosperity, and influence around the globe, even if the backing is only implied.<\/p>\n

The debt accumulation policies of the Obama-Biden and the Trump-Pence Administrations, which were a massive acceleration of the previous policies of the Bush Administration, have to a large degree been continued by a Biden-Harris Administration.<\/p>\n

The increases in America\u2019s debt are leading the world into the time when something other than the U.S. dollar will be valued as its reserve currency.<\/p>\n

The U.S.A. and its dollar are at serious risk.<\/p>\n

Ezekiel 5:4 seems to show that after the U.S.A. and its British-descended allies are eliminated, fire will spread to \u201call the house of Israel.\u201d Amos 6:3-7 also shows captivity coming to remaining Israelites after the house of Joseph gets afflicted. Thus, all the \u201clost tribes\u201d will be affected.<\/p>\n

This would happen after the fulfillment of Daniel 11:39.<\/p>\n

[i]<\/a> Gold hits new record, posts best month since 2016 CNBC, July 30, 2020; Woodall T. Gold surges to new highs as US dollar weakens despite growing macro risks. S&P Global, August 10, 2020<\/p>\n

[ii]<\/a> MacLeod A. Designing a new currency is impractical. Goldmoney Insights, March 24, 2022<\/p>\n

[iii]<\/a> Rickards J. Axis of Gold. The Daily Reckoning, December 20, 2016<\/p>\n

[iv]<\/a> Guistra F. Why the U.S. dollar will be replaced as the dominant global currency \u2014 sooner than you think. Toronto Star, July 5, 2022<\/p><\/blockquote>\n

A while back, we put together the following video:<\/p>\n

\n
\n
\n
\n
\n

\"\"<\/a><\/p>\n

12:30 <\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n
\n

Gold Backed Currency to Replace the US Dollar?<\/a><\/h3>\n<\/div>\n<\/div>\n

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 looked 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.<\/span><\/a><\/p><\/blockquote>\n

Here is a link to our video: Gold Backed Currency to Replace the US Dollar?<\/a><\/p>\n

However, let me add that gold will, for a time, be considered less than worthless as the prophet Ezekiel warned:<\/p>\n

19 They will throw their silver into the streets,
\nAnd their gold will be like refuse;
\nTheir silver and their gold will not be able to deliver them
\nIn the day of the wrath of the Lord;
\nThey will not satisfy their souls,
\nNor fill their stomachs,
\nBecause it became their stumbling block of iniquity. (Ezekiel 7:19)<\/p><\/blockquote>\n

Now the above does not happen until well AFTER the Great Tribulation begins and the USA and its dollar are gone. But it is also a warning to not put trust in gold.<\/p>\n

And we should have even less trust in the value of the USA dollar and crypto-currencies.<\/p>\n

Notice also the following:<\/p>\n

\n

What happens to the US economy if the Dollar is no longer the reserve currency of the world?<\/h2>\n

If US T-bills lose their attraction as reserve investments \u2026 it would get harder for the Treasury to sell more of them, requiring higher interest rates to be paid and potentially forcing austerity measures on the US government or triggering classic deficit spending inflation (\u201cprinting money\u201d to pay for government, this doesn\u2019t happen now because the deficit is financed through sales of those bonds at extremely low interest rates).<\/p>\n

If foreign central banks and governments start exchanging their US dollars for some other currency or currencies, then the value of the dollar in international trade drops, it becomes more expensive to buy imported goods in the US and more profitable to sell exported goods from the US. This could have all kinds of political and social effects, especially if the shift was rapid, severe, and unexpected.\u00a0https:\/\/www.quora.com\/What-happens-to-the-US-economy-if-the-Dollar-is-no-longer-the-reserve-currency-of-the-world<\/a><\/p>\n<\/blockquote>\n

The above is warning about inflation, higher interest rates, and troubles borrowing. The USA is the most highly indebted nation of all time. The USA has been essentially on a borrowing binge the last four decades and its economy is now dependent upon borrowing. The Bible paints an even worse scenario that in the time of the end (Habakkuk 2:2-3) the highly indebted will be taken over (Habakkuk 2:2:6-8) and destroyed (Daniel 11:39;\u00a0USA in Prophecy: The Strongest Fortresses<\/a>).<\/p>\n

The time will come when the US dollar is dethroned and this will inflict great pain on the USA. But shortly after the US dollar becomes close to worthless, the Great Tribulation (Matthew 24:21) will come and the USA will be no more (watch Do these 7 prophesies point to the end of the USA?<\/a>).<\/p>\n

The more gold is worth in USA dollars, the less the USA dollar is worth in terms of gold.<\/p>\n<\/div>\n

The USA dollar will one day collapse and be worth no more than the scrap or novelty value of the cotton-paper it is printed on.<\/p>\n

That day is getting closer.<\/p>\n

Some items of possibly related interest may include:<\/em><\/p>\n

The Plain Truth About Gold in Prophecy. How Should a Christian View Gold?<\/a> 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? Two videos of related interest are Beast Prophecies and European Gold<\/a> and Germany, Gold, and the US Dollar<\/a>.
\nThe End of US Dollar Dominance<\/a> Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan<\/a>.
\nWhen Will the Great Tribulation Begin? 2024, 2025, or 2026?<\/a>\u00a0Can the Great Tribulation begin today? What happens before the Great Tribulation in the \u201cbeginning of sorrows\u201d? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language:\u00a0\u00bfPuede la Gran Tribulaci\u00f3n comenzar en el 2020 o 2021? \u00bfEs el Tiempo de los Gentiles?<\/a>\u00a0A related video is:\u00a0Great Tribulation: 2026 or 2027?<\/a>\u00a0A shorter video is:\u00a0Tribulation in 2024?<\/a>\u00a0Here is a video in the Spanish language:\u00a0Es El 2021 el a\u00f1o\u00a0 de La Gran Tribulaci\u00f3n o el Grande Reseteo Financiero<\/a>.
\nLost Tribes and Prophecies:\u00a0What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America?<\/a> 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<\/a>; Lost tribes, prophecies, and identifications<\/a>; 11 Tribes, 144,000, and Multitudes<\/a>; Israel, Jeremiah, Tea Tephi, and British Royalty<\/a>; Gentile European Beast<\/a>; Royal Succession, Samaria, and Prophecies<\/a>; Asia, Islands, Latin America, Africa, and Armageddon;<\/a>\u00a0 When Will the End of the Age Come?<\/a>;\u00a0 Rise of the Prophesied King of the North<\/a>; Christian Persecution from the Beast<\/a>; WWIII and the Coming New World Order<\/a>; and Woes, WWIV, and the Good News of the Kingdom of God<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gold bullion COGwriter Gold is in the news. Newsweek published the following: Gold Price Closes In on $3,000 Milestone October 6, 2024 Gold could reach $3,000 by the end of 2024 or sooner after several months of rising prices. GoldPrice.org says that there has been a 45.93 percent increase in the price of an ounce […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-90888","post","type-post","status-publish","format-standard","hentry","category-prophecy"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts\/90888","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/comments?post=90888"}],"version-history":[{"count":5,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts\/90888\/revisions"}],"predecessor-version":[{"id":90894,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/posts\/90888\/revisions\/90894"}],"wp:attachment":[{"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/media?parent=90888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/categories?post=90888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cogwriter.com\/news\/wp-json\/wp\/v2\/tags?post=90888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}