The Fog of Oil
7th March 2026
For years, of course, we have tracked the fundamental drivers which impact the gold price (from DXY debates, inflation signals, and de-dollarization headlines to COMEX outflows).
All of these complex signals and themes ultimately boil down to a simple realization: Gold rises as debt-trapped nations debase their currencies to monetize their increasingly unloved IOUs.
This is pure fundamentalist thinking, and it works. Gold’s direction is easy, because the fall of paper currencies is now obvious.
In short, real money (gold and silver) historically gets the last say over paper money (USD), paper metals (COMEX) and paper promises (USTs).
Or stated even more simply: Rock openly beats paper.