By Tom Anderson, Wall Street Watchdogs
MUST SEE: Ex-Wall Street Insider: A Historic Pattern Is Repeating and Gold Could Soar Past $27,000
A seismic event which has played out four times in history is likely unfolding again. And signs point to gold soaring past a shocking $27,000 an ounce… yet most Americans had no clue it was even happening. Today, a CEO of a publicly traded company and former Goldman Sachs VP is pulling back the curtain on this strange story playing out in the upper echelons of world finance. And even if you’ve never owned an ounce of gold, this could impact everything from your investments to your mortgage. Get the time-sensitive details here. [Full Story]
On December 26, 2025, gold hit $4,549.74 per ounce — an all-time high.
The yellow metal has now surged more than 72% this year alone, marking the largest annual gain since 1979.
But here’s what Wall Street won’t tell you: This historic rally may be just the opening act.
I’ve spent weeks poring over the monetary mathematics that serious economists use to calculate gold’s implied value. The numbers aren’t speculation. They’re arithmetic. And they point to a conclusion that should shake every American who holds paper dollars to their core.
Gold could reach $27,000 per ounce. Maybe higher.
I know what you’re thinking. That sounds insane. That’s a nearly 500% increase from today’s already-record prices.
But as I’ll show you in the pages that follow, the math isn’t just plausible — it’s practically inevitable.
In London, Bank of England staff are working overnight shifts to keep up with the flood of gold being pulled from vaults.
Wealthy investors are loading suitcases with precious metals onto commercial flights.
Hedge fund managers are briefing clients on urgent portfolio adjustments.
And earlier this year, more than $8 trillion was pulled out of stocks in a single week.
Something very strange is happening. The same Federal Reserve policies that have pushed gold to $4,500 are accelerating. The same central bank buying spree that’s driven three consecutive years of 1,000+ tonne purchases shows no signs of slowing. And the same fiscal recklessness that’s pushed U.S. national debt past $38.4 trillion continues to metastasize.
The question isn’t whether gold will reach these levels. The question is how you’ll position yourself to profit when it does.
The $27,000 Gold Calculation: Pure Mathematics
Let me walk you through the monetary math that economists have used for decades to calculate gold’s implied value. This isn’t speculation. It’s a straightforward calculation based on publicly available Federal Reserve data.
The framework begins with a simple question: If the United States were required to back its money supply with gold — as it did for most of American history — what price would be necessary?
Here are the facts.
The U.S. Treasury holds 261.5 million troy ounces of gold in Fort Knox and other depositories. As of November 2025, the M1 money supply — the measure of liquid money in the economy — stands at approximately $19 trillion, according to the Federal Reserve Bank of St. Louis.
From 1913 to 1946, the Federal Reserve was legally required to maintain 40% gold backing for all currency in circulation. This wasn’t arbitrary — it was the mathematical anchor that prevented governments from debasing the currency through unlimited money printing.
Apply that same 40% backing requirement to today’s money supply, and you need $7.6 trillion in gold reserves.
Now divide that $7.6 trillion by 261.5 million ounces.
You get approximately $29,000 per ounce.
That’s not a projection. That’s not wishful thinking. That’s the implied equilibrium price of gold if the Federal Reserve were required to back 40% of its money supply with physical metal.
Even using a more conservative 20% backing ratio, you arrive at roughly $14,500 per ounce — still more than triple today’s price.
Dr. David Eifrig, CEO of MarketWise and former Goldman Sachs executive, recently laid out this exact calculation for his clients. He’s traded profitably through just about every stock market scenario imaginable, including Black Monday. Respected institutional adviser Luke Gromen runs the numbers differently but arrives at a similar figure — around $20,000.
The gold-to-money-supply ratio has been a cornerstone of monetary analysis for over a century. Guggenheim Partners noted in their research that after World War II, the Federal Reserve held gold reserves equivalent to a far higher percentage of every dollar outstanding. Today, that coverage ratio has collapsed — which means either the dollar is massively overvalued, or gold is massively undervalued.
History suggests the latter.
The Mar-a-Lago Accord: Why This Is Happening Now
To understand why gold is headed dramatically higher, you need to understand what’s unfolding at the highest levels of finance.
A carefully orchestrated monetary reset is underway right now. It’s been laid out point-by-point by one of President Trump’s senior advisers — Dr. Stephen Miran, who now chairs the Council of Economic Advisors. His dossier, “A User’s Guide to Restructuring the Global Trading System,” has gone viral in hedge fund circles.
It’s the most-read story on Bloomberg terminals — which professional investors pay $25,000 per year to access.
Related: Will The “Mar-a-Lago Accord” Cause the Biggest Gold Bull Run in History?
Yet almost nobody on Main Street has any idea what’s rushing toward them.
Forbes calls it a plan to remake the financial system that could “turn global financial markets upside down.”
The Financial Times says “the unimaginable is becoming imaginable” and that it could “upend the global monetary system.”
The Wall Street Journal calls it a “New World Order.”
What we’re witnessing is the controlled demolition of the existing monetary order. A reset for the U.S. dollar. A reset for YOUR dollars.
The dollar has already suffered its worst six months in more than half a century, falling nearly 10% against major currencies.
And this is just the beginning.
Treasury Secretary Scott Bessent — a former hedge fund manager who generated billions of dollars in profits betting on and against currencies — recently made a remarkable statement from the Oval Office while Trump looked on: “Within the next 12 months, we’re going to monetize the asset side of the U.S. balance sheet.”
In other words, they’re looking at every single asset the United States owns to see what can be monetized.
And when this happens, one asset is likely to skyrocket: gold.
Gold Has Been Revalued Four Times Before
Few people realize that gold has been officially revalued four times in U.S. history, beginning in 1838.
Right now, gold is valued on the government’s books at just $42.22 per ounce. That was the official price in 1973 — even though gold trades above $4,500 today.
The most famous revaluation example: On April 5, 1933, President Franklin D. Roosevelt issued Executive Order 6102, mandating U.S. citizens surrender their gold to the Federal Reserve at $20.67 per ounce.
Then, with the stroke of a pen, Roosevelt revalued gold to $35 per ounce — adding $2.8 billion to the Federal Reserve’s funds in the process.
At that time, national debt was about $673 billion in today’s money.
Flash forward to today: U.S. debt exceeds $38.4 trillion. According to the Joint Economic Committee, total gross national debt increased $2.23 trillion in just the past year. That works out to $6.12 billion per day, $255 million per hour, or $70,843 per second.
Editor’s Note: Most folks have completely missed the fact that the world’s Central Banks have been quietly gobbling up as much gold as they can… Stacking it in their locked vaults on pallets in record numbers. Find out why right here (and see what you can do to get in too with just about $20). [Full Story]
Interest payments on this debt now exceed $980 billion annually — more than what the U.S. spends on national defense.
Clearly, something extreme needs to happen.
If gold were revalued from its book value of $42.22 to its current market price above $4,500, that would add more than $1.1 trillion in liquidity to the Treasury General Account — essentially the government’s checking account.
And here’s what most people miss: Even the Federal Reserve now acknowledges the potential for a gold revaluation in Chapter One of their Financial Accounting Manual for Banks (published quietly in April 2024).
To quote Section 2.10, on page 13: “Whenever the official price of gold is changed, Treasury adjusts the account and, simultaneously, the deposit account.”
The mechanism is already in place. The price of gold on their books could be updated with the stroke of a pen.
The 1985 Precedent: What Happened Last Time
If you’re a student of financial history, you know this wouldn’t be the first dramatic reset in America.
The “Mar-a-Lago Accord” is a deliberate nod to the 1985 Plaza Accord — signed at New York City’s Plaza Hotel — which was also a deliberate move to weaken the U.S. dollar.
The Plaza Accord achieved its goal quickly. The U.S. dollar lost around 40% of its value in the months that followed.
For folks who weren’t prepared, sat on the sidelines, or lived on fixed income, the results were catastrophic:
If your savings were in cash, you lost almost half your wealth in just two years. Inflation rose, so the cost of living jumped. Banks didn’t increase interest rates fast enough to compensate. And although stocks initially went on a tear with help from a weakening dollar, this all culminated in the Black Monday crash of 1987, when the Dow dropped 22% in a single day.
But here’s the other side of that story: Those who understood what was happening and positioned in gold saw extraordinary gains.
After the Plaza Accord was signed, gold soared. In the early 2000s, gold surged almost 250% over six years. An index of gold stocks jumped around 700% over the same period.
History doesn’t repeat, but it rhymes. And right now, the rhyme is deafening.
Where Wall Street Sees Gold Heading
The most respected research desks on Wall Street are scrambling to raise their gold price targets:
Goldman Sachs projects $4,900 per ounce by December 2026.
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J.P. Morgan forecasts $5,000 per ounce by Q4 2026, with $6,000 possible longer term. Their analyst Gregory Shearer notes that in Q3 2025, investor and central bank gold demand totaled approximately 980 tonnes — more than 50% higher than the average of the previous four quarters. In dollar terms, that’s approximately $109 billion of quarterly demand inflow.
Bank of America calls for $5,000 per ounce in 2026.
Morgan Stanley sees $4,800 per ounce by Q4 2026.
Yardeni Research — whose calls on gold have proven remarkably prescient — just raised their year-end 2026 target to $6,000, with $10,000 projected by decade’s end.
Saxo Bank warns that a technological black swan could send gold skyrocketing to $10,000 in 2026.
LongForecast projects $7,500+ by late 2026, approaching $9,000 by 2028.
These aren’t fringe analysts. These are the most respected research desks on Wall Street. And they’re all saying the same thing: The gold bull market is just getting started.
The Central Bank Stampede
Here’s the statistic that validates everything I’ve just told you: Central banks have purchased more than 1,000 tonnes of gold annually for three consecutive years — 2022, 2023, and 2024.
This is unprecedented.
Editor’s Note: Behind the Fed’s flashy moves, a quieter revolution is underway… thanks to new legislation out of Washington. Our government’s faster, built for business, and already bigger than Visa. Incredibly, many Americans still don’t know it exists, even as it’s rolling out nationwide. Our expert Eric Wade says early movers could see extraordinary profits. Click here for his urgent briefing. [Full Story]
From 2014 to 2016, central banks bought a combined 1,575 tonnes. From 2022 to 2024, they purchased 3,220 tonnes — more than double the previous period.
The World Gold Council reports that central bank gold holdings now account for nearly 20% of official reserves globally, up from around 15% at the end of 2023.
Poland’s central bank recently increased its gold allocation target to 30% of reserves and has become the largest buyer in 2025, adding 67.2 tonnes in the first half alone. Brazil added 31 tonnes in just two months. China has reported gold purchases for 13 consecutive months.
The 2025 Reserve Management Trends survey shows that 71% of central bank reserve managers plan to increase gold allocations — while only 2% expect to reduce holdings.
Why are central banks around the world abandoning the dollar and hoarding gold?
They see what’s coming.
Ray Dalio, billionaire founder of Bridgewater Associates (the world’s largest hedge fund, which has produced more dollar gains than any other hedge fund ever), put it bluntly: “If you don’t own gold, you understand neither history nor economics.”
He recently recommended investors allocate up to 15% of portfolios to gold given the concerning fiscal situation.
Name a legendary investor and they now own gold: Paul Tudor Jones. Paul Singer — the so-called “world’s most feared investor.” BlackRock CEO Larry Fink. Steve Cohen, Ken Fisher, Joel Greenblatt, David Einhorn.
These are not the men who get caught flat-footed or left behind by financial markets.
And by the way — take three guesses what Treasury Secretary Scott Bessent’s biggest holding was back when he was a hedge fund manager.
That’s right. Gold.
The Mathematics of Why $27,000 Gets Easier, Not Harder
There’s a mathematical reality that most investors miss: As gold rises, each subsequent $1,000 increase represents a smaller percentage gain.
Consider the journey so far. Gold started 2025 at approximately $2,624 per ounce. Reaching $4,500 required a 72% increase.
But going from $4,500 to $5,500 requires only a 22% move. Going from $5,500 to $6,500 is just 18%. From $14,000 to $15,000 is merely 7%.
This is why gold’s march toward $27,000 becomes progressively easier as the price rises. The same catalysts that pushed gold from $2,000 to $4,500 will produce even larger nominal gains at higher prices.
CoinCodex projects gold could reach approximately $9,900 by 2030 — a 128% increase from current levels. LiteFinance’s analysis suggests gold could reach $11,655 to $16,640 within five years under current trends.
These projections align with the monetary mathematics. As the money supply continues expanding and central banks continue accumulating, gold has room to multiply from current levels.
Six Ways to Capitalize on Gold’s Rise to $27,000
Now comes the question that matters: How do you position yourself to profit from gold’s continued ascent — and protect your wealth from a potential 40% dollar devaluation?
There’s no single right answer. Each approach carries distinct advantages and risks. Let me walk you through the primary options.
Related: Weiss Raitings: Wall Street says buy gold, but…
Option 1: Physical Gold (Coins and Bars)
This is the oldest and most straightforward approach. You purchase actual gold — coins or bars — and store them in a safe, vault, or depository.
Advantages:
Physical gold carries zero counterparty risk. When you own metal, you don’t depend on any bank, government, or financial institution to honor an obligation. Your gold exists independent of the financial system.
Physical gold is completely private in many jurisdictions and cannot be hacked, frozen, or electronically confiscated. It’s tangible wealth you can hold in your hand.
In a true crisis scenario — banking collapse, currency failure, geopolitical upheaval — physical gold has historically maintained value when other assets became worthless.
Physical gold has no management fees, no expense ratios, and no ongoing costs beyond storage and insurance.
Drawbacks:
Storage and security become immediate concerns. Home storage invites theft risk; professional vaulting incurs ongoing fees, typically 0.5% to 1% annually.
Transaction costs are meaningful. Retail dealers charge premiums of 3% to 7% above spot price on purchases, and you’ll take a discount when selling.
Liquidity is slower than electronic alternatives — you can’t instantly sell physical gold at 3 AM or over a weekend.
Physical gold generates no yield or income while you hold it.
Best for: Investors focused on wealth preservation, crisis insurance, and legacy holdings they plan to retain for years or decades.
Option 2: Leveraged Gold ETF (UGL — ProShares Ultra Gold)
For investors seeking amplified exposure to gold price movements, leveraged ETFs offer a powerful — but dangerous — tool.
The UGLD 3x leveraged ETN that was once popular has been delisted. The primary remaining option is UGL, which provides 2x daily leverage to gold prices.
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Advantages:
UGL magnifies gold’s moves — if gold rises 1% in a day, UGL targets a 2% gain (before fees). This allows aggressive traders to amplify upside with less capital.
The ETF trades like any stock, with high liquidity and low transaction costs. You can buy and sell throughout the trading day.
No storage concerns, no insurance costs, no physical security worries.
Drawbacks:
Leverage cuts both ways. If gold falls 1%, UGL loses approximately 2%. A 10% decline in gold could translate to roughly 20% losses.
These products reset daily, meaning long-term returns can diverge significantly from 2x the underlying performance due to compounding effects and volatility decay. In choppy, sideways markets, leveraged ETFs can lose value even if the underlying asset is flat over time.
UGL generates a K-1 tax form, adding complexity to tax reporting.
The expense ratio (0.95%) is higher than unleveraged gold ETFs.
This is a trading vehicle, not an investment — suitable only for short-term positioning by sophisticated investors who monitor positions daily.
Best for: Experienced traders making tactical, short-term bets on gold price direction with clear entry and exit plans.
Option 3: Gold Mining Stock — Kinross Gold Corporation (NYSE: KGC)
Mining stocks offer leveraged exposure to gold prices through operational leverage — the difference between production costs and gold’s selling price.
Advantages:
Kinross delivered record free cash flow of approximately $700 million in Q3 2025 and achieved a net cash position for the first time in years. The company increased its 2025 share buyback target by 20% to $600 million and raised its dividend 17%.
Production cost of sales came in at $1,150 per ounce, while gold averaged well above $3,000 — generating substantial margins. For every $100 increase in gold prices, Kinross adds approximately $170 million in free cash flow.
Kinross stock hit an all-time high of $29.70 in December 2025 and has gained approximately 144% year-to-date, dramatically outperforming gold itself.
Analysts maintain a consensus “Strong Buy” rating with a 12-month average price target of $31.04. The company carries low debt and recently received a Moody’s upgrade to Baa2.
The company pays a dividend (recently increased to $0.14 per share annualized), providing income that physical gold cannot.
Related: If you have an account with Chase, Bank of America, Citigroup, Wells Fargo, or U.S. Bancorp…
Please Watch This Video Immediately.
Drawbacks:
Mining stocks carry operational risks entirely absent from physical gold: labor disputes, permitting delays, mine accidents, political instability in operating jurisdictions, rising input costs, and management execution failures.
Kinross operates in the United States, Brazil, Chile, Canada, and Mauritania — jurisdictions with varying political and regulatory risks.
Gold miners historically underperform physical gold during certain market phases and can be hurt by rising costs even if gold prices rise.
The stock will experience higher volatility than the underlying metal. A general stock market crash can drag down mining shares even if gold prices are rising.
Best for: Investors seeking leveraged upside to gold with dividend income, willing to accept operational and company-specific risk.
Option 4: Gold Royalty Company — Gold Royalty Corp (NYSE American: GROY)
Royalty companies provide financing to mining operations in exchange for a percentage of future production, avoiding the operational headaches of running mines.
Advantages:
Gold Royalty reported record revenue in Q2 2025, with revenue nearly doubling year-over-year. The company achieved record Adjusted EBITDA and transitioned to positive free cash flow for the first time.
The royalty model provides exposure to gold production without bearing mining costs — Gold Royalty maintains an impressive 87.5% gross margin. When gold prices rise, royalty revenue increases with minimal cost inflation.
Analysts maintain a unanimous “Strong Buy” consensus with a 12-month average price target of $4.86, implying roughly 35% upside from current levels around $3.83.
The company has assembled 50 royalties since 2021 and expects production to ramp significantly, targeting 23,000-29,000 gold equivalent ounces by 2029.
Royalty companies offer diversification across multiple mining operations, reducing single-asset risk.
Drawbacks:
Royalty companies depend entirely on the operational success of their mining partners. If those mines underperform, delay production, or shut down, the royalty stream suffers.
GROY is a smaller-cap stock with less liquidity than major miners, meaning larger price swings on relatively modest trading volumes.
The company remains in growth mode and doesn’t currently pay a dividend.
Share price volatility has been significant — GROY has swung between $1.16 and $4.15 over the past 52 weeks.
Best for: Investors seeking gold exposure with high margins and growth potential, comfortable with small-cap volatility.
Option 5: Digital Gold & Gold Accounts (PAXG, XAUT)
Tokenized gold represents a newer category where blockchain tokens are backed by physical gold stored in professional vaults.
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Advantages:
Pax Gold (PAXG) is an ERC-20 token where each token represents one fine troy ounce of London Good Delivery gold stored in LBMA-accredited Brink’s vaults. The tokenized gold market has surged to approximately $2.57 billion in total value.
Holders maintain direct legal ownership of allocated gold bars (with identifiable serial numbers) while enjoying the liquidity and divisibility of cryptocurrency. You can buy fractional amounts as small as 0.01 ounces.
PAXG can be transferred globally 24/7 with near-instant settlement — unlike physical gold, which requires shipping, or ETFs, which trade only during market hours.
Paxos provides monthly third-party audits to ensure reserves match supply.
No storage fees for holding PAXG in your own wallet.
PAXG can be used as collateral in decentralized finance (DeFi) protocols, potentially generating yield while maintaining gold exposure.
Drawbacks:
Tokenized gold carries counterparty risk — you’re trusting Paxos to maintain reserves and honor redemption requests.
Regulatory uncertainty surrounds crypto assets. Rules could change, potentially affecting how tokenized gold can be bought, sold, or held.
Technical risks exist: wallet hacks, lost private keys, smart contract vulnerabilities, and blockchain network issues could result in loss of assets.
The 430 PAXG minimum for direct physical redemption puts full redemption out of reach for smaller investors.
Best for: Tech-savvy investors seeking gold exposure with 24/7 liquidity and DeFi integration, comfortable with blockchain technology and associated risks.
Option 6: Inverse Dollar Plays (UDN — Invesco DB US Dollar Index Bearish Fund)
Here’s a perspective most investors miss: Gold isn’t really increasing in value. An ounce of gold is still an ounce of gold. What’s happening is the U.S. dollar is weakening — losing purchasing power against real assets.
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The Invesco DB US Dollar Index Bearish Fund (UDN) provides exposure to this thesis directly by tracking the inverse of the U.S. Dollar Index.
Advantages:
UDN provides a pure play on dollar weakness against a basket of six major currencies (euro, yen, pound, Canadian dollar, Swedish krona, Swiss franc).
The fund has gained approximately 10-12% year-to-date as the dollar has weakened — validating the currency debasement thesis.
UDN offers diversification benefits when combined with gold holdings, as both tend to perform well during periods of dollar weakness but respond to different specific catalysts.
The dollar’s bearish trajectory appears structural, not temporary, driven by fiscal uncertainty and global diversification away from USD reserves.
Lower volatility than gold itself — suitable for investors who want currency exposure without commodity price swings.
Drawbacks:
UDN is a futures-based product, meaning returns can diverge from spot currency moves due to rolling costs and contango effects.
Returns can erode in choppy or sideways currency markets — best used for tactical trades rather than long-term holds.
Expense ratio of 0.78% is higher than many passive ETFs.
Currency markets can move against you quickly if the Fed surprises with hawkish policy or if risk-off sentiment drives safe-haven flows into the dollar.
Unlike gold, UDN provides no protection against a broader collapse in fiat currencies — it simply bets on relative dollar weakness.
Best for: Sophisticated investors seeking to express a bearish dollar view as a complement to gold holdings.
The Path Forward
Let me be direct with you.
I’ve been studying financial markets for decades. I’ve seen bubbles inflate and pop. I’ve watched fortunes made and lost. And I can tell you with certainty: What’s happening in gold right now is different.
This isn’t speculation. This is mathematics.
When the U.S. money supply explodes from $4.8 trillion to $19 trillion in five years, gold must eventually adjust. When central banks around the world purchase over 1,000 tonnes annually for three consecutive years, that’s not a trade — that’s a verdict on the future of fiat currency. When the U.S. national debt grows by $70,843 every second of every day, the purchasing power of your dollars is evaporating in real time.
Gold at $27,000 isn’t a wild prediction. It’s where the math leads. The only question is timing.
The Wall Street analysts I’ve cited — Goldman Sachs, J.P. Morgan, Bank of America — are calling for $5,000 to $6,000 gold within the next two years. That’s roughly 35-45% upside from today’s prices. Those gains alone would be remarkable.
But the monetary mathematics suggest we’re headed much higher. The gold-to-money-supply ratio remains well below historical norms. Central banks continue accumulating at record pace. And the fiscal situation in Washington grows more precarious by the day.
I can’t tell you which of the six strategies outlined above is right for you. That depends on your risk tolerance, your investment timeline, your tax situation, and your personal beliefs about what’s coming.
What I can tell you is this: Doing nothing is a choice. Holding dollars while the Federal Reserve enables trillions more in debt is a choice. Watching from the sidelines while central banks around the world exchange their paper for metal is a choice.
The smart money has already made its choice. The question is whether you’ll make yours before it’s too late.
Stay vigilant,
Tom Anderson Wall Street Watchdogs
Wall Street Watchdogs is committed to uncovering the truth about financial markets and helping individual investors prepare for systemic risks that mainstream media won’t discuss. We receive no compensation from the companies or assets we analyze. This article is for educational purposes only and should not be construed as investment advice.
