Is Gold About to Kick the Dollar Out? Spoiler: It’s Not Your Grandma’s Savings Plan

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So, gold just strutted past $3,700 an ounce, like it owns the place-because apparently, it does. Paul Wong from Sprott Asset Management is out here saying gold might finally pull a hostile takeover on the dollar’s “store-of-value” gig. Yeah, that dollar you’ve been hoarding? Might get benched.

Wong: “Fiscal Dominance” Means the Dollar’s Getting the Cold Shoulder, Gold’s Taking the Throne

Gold prices took a tiny breather at $3,678.9 per ounce after their big power move, but the message from Paul Wong and Sprott is loud and clear-gold’s not just here for a visit, it’s gunning for the head honcho spot in the financial system.

Wong doesn’t sugarcoat it:

“Look, this dollar-centric global system? It’s about as sustainable as my New Year’s gym membership. Keeping the dollar as your ‘store of value’ forces the U.S. to run deficits like it’s Black Friday-except it’s political suicide now.”

The backdrop? Basically a casino where the house rules keep changing. Gold’s up over 30% this year, thanks to a wild mix of central bank drama, tariff wars, and what they politely call “fiscal dominance,” but I call “Washington spending spree tugging the Fed’s leash.” Investors sense the dollar’s losing its mojo-the way central banks are stacking gold, you’d think they’re prepping for an apocalypse-themed yacht party.

“Fiscal dominance” is just a fancy term for, “The government spends, the Fed nods like a distracted dad at a soccer game.” Instead of fighting inflation, the Fed’s just trying not to interrupt the debt binge. Negative yields, a dollar weakening faster than my willpower around carbs, and inflation that’s not going anywhere-this is prime real estate for gold to go from shiny to blinding.

Wong’s not the only one primed on the gold rush. The yield curve’s looking like a flashing neon sign screaming “warning,” and traders are hedging like nervous parents at a rock concert. In this setup, gold steps in as the “neutral, credible reserve asset.” I mean, it’s got thousands of years of street cred, trillions in liquidity, and a fan club that includes central banks worldwide-take that, dollar!

Right now, gold lovers are soaking up the $3,700 milestone glow like it’s the last cookie in the jar. But here’s the kicker: if fiscal dominance keeps twisting the Fed’s arm, one day the global financial system might wake up and find out its vault is full of gold bars instead of greenbacks. And that, my friends, is when things get really interesting (or really annoying, if you’re still clinging to your paper bills).

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2025-09-17 18:43