End of a dollar-centered world nears, gold to replace some bonds, fund manager says
We're in a very early part of a generational boom market in commodities, says Willem Middelkoop.
For 82 years, the world has been dominated by the dollar, but now, according to Willem Middelkoop, the financial landscape is shifting towards a more multipolar system with gold making a comeback. Middelkoop, founder of the Commodity Discovery Fund and author of "The Big Reset," discussed this trend with MINING.COM host Devan Murugan on the latest episode of "Top of Mine." He believes that gold is gradually replacing some of the bonds held by banks, signaling a major shift in the market.
Middelkoop contends that we are only at the beginning of a generational boom in commodities, following a prolonged bear market. He attributes this to various factors, including shortages of metals, geopolitical conflicts, and the devaluation of currencies. Silver, in particular, is catching his eye, citing its dual demand as both an industrial and monetary asset.
He has recently increased his personal silver holdings due to its potential, predicting that it could reach $500 in the near future, with a long-term target of $500.
Comparing the two metals, Middelkoop notes that silver often follows gold's lead but can sometimes move faster. He recalls how silver broke out above $30 less than two years ago and climbed to $120 in a relatively short period. This rapid rise demonstrates silver's potential to be the "fastest horse in the metal race."
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