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Gold in This Century

The following chart shows what would have happened if we had bought gold at nearly any time in this century. The numbers are a little hard to read, but the color (green) is what matters: No matter when someone bought gold since 2000, they’re up, and the rate of gain is accelerating.

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In Any Currency…

It also didn’t matter what currency we used to buy our gold. It’s up against them all:

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Demanding Physical Gold

On major metals exchanges, the demand for physical gold has spiked:

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Silver Doing Even Better

Remember when the gold/silver ratio broke 100 (meaning it took more than 100 ounces of silver to buy an ounce of gold) and gold bugs called it a screaming buy signal for silver?

They were right. Silver has been outperforming gold, and the gold/silver ratio is falling hard. BUT it remains above past averages, which means it’s still undervalued, both on its own and relative to gold:

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Not surprisingly, this translates into 25 years of silver purchases being way up, no matter when it was bought or at what price:

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Demanding Physical Silver

Like gold, physical silver is leaving the exchanges at record rates, as the amount of available metal dwindles:

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What About the Miners?

If the metals are disappearing from exchanges, are the miners’ gold/silver reserves becoming more valuable? Yes, especially given how small their market caps are relative to the broader markets. So keep buying the high-quality miners.

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Incrementum — source of great gold/silver charts — just posted some new ones that illustrate the epic nature of this bull market. Here are seven, and the stories they tell: 

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