Is the Gold Rally Over? Don't Bet on It

Jason Williams

Posted May 9, 2025

Gold has been doing something truly remarkable lately, surging to levels that have grabbed everyone's attention. We're talking about prices reaching astonishing new highs, even touching $3,500 an ounce at one point.

is the gold rally over

This wasn't just a small bump; it was a significant move. Gold prices have climbed over 27% just this year alone when they hit that all-time high of $3,500 per ounce in 2025.

It really looked like the metal couldn't be stopped, breaking out of a long-term ascending triangle pattern that had developed over nearly a decade.

is the gold rally over triangle

This breakout signaled a powerful move higher, suggesting that a new gold bull market or even a historic commodity supercycle could be underway

The Sudden Dip: A Temporary Hiccup?

But then, just as the rally seemed invincible, gold hit a patch of turbulence. In recent days, we've seen prices pull back. Spot gold prices have dipped, trading around levels all the way down to $3,340, marking a fall of more than 1% a day on some occasions.

US gold futures also saw declines. This sudden weakness, following a sharp rise, has left some investors scratching their heads and asking if the incredible gold run might be over.

Why the Wobble? Trade Talk Troubles and Fed Watch

So, what caused this sudden cooling-off? The primary culprit appears to be a surge of optimism surrounding potential progress in US-China trade negotiations.

is the gold rally over chart

Reports emerged that officials from the United States and China agreed to hold meetings, with US representatives traveling to Switzerland for discussions. China even hinted at starting trade talks. President Trump signaled a willingness to potentially reduce tariffs on Chinese imports.

But why does good news about trade hurt gold? Because gold is widely considered a safe-haven asset — a place investors seek refuge when global uncertainty, like trade wars or geopolitical tensions, increases.

When the prospect of trade tensions easing appears, it can reduce the demand for these safe assets. Even ongoing geopolitical issues, such as military actions between India and Pakistan, which would typically boost gold's safe-haven appeal, were overshadowed by the positive headlines on the trade front in the immediate term.

Another factor influencing short-term prices was the anticipation surrounding the Federal Reserve's interest rate decision…

The market widely expected the Fed to keep interest rates steady, with bets strongly favoring no change.

While historically low interest rates support gold by lowering the opportunity cost of holding a non-yielding asset, market expectations and the perceived stance of the Fed always play a role in short-term price movements.

A slightly stronger US dollar in the immediate term also contributed to the pressure on gold.

The Unstoppable Forces Behind Gold: A Deeper Current

But, while short-term news about trade talks might cause a temporary dip, focusing only on these factors misses the bigger picture…

The fundamental drivers that propelled gold to recent highs remain firmly in place.

Economic uncertainty is still a major global concern…

Geopolitical tensions persist in various parts of the world and are escalating in some of them…

Inflation remains a threat…

is the gold rally over drivers

These conditions create a strong backdrop for gold's role as a safe haven and store of value.

Plus, central banks around the world are buying gold at record levels, aggressively stockpiling the metal to hedge against global economic uncertainty and move away from the dollar.

That’s what started this whole rally to begin with:

is the gold rally over banks

This strong institutional demand provides a solid foundation for the market.

And while the dollar saw a recent rebound, many analysts still point to a long-term trend of a potentially weakening US dollar, which makes gold more affordable for buyers using other currencies, further boosting demand.

Even the Federal Reserve's monetary policy, while causing short-term volatility, supports gold's bullish case in multiple scenarios…

If the Fed keeps rates higher for longer due to persistent inflation, this environment, characterized by inflation alongside economic concerns, is historically positive for gold.

If, as the market expects for later this year, the Fed does eventually cut rates, that would directly reduce the cost of holding non-yielding gold and likely trigger another wave of buying.

The very uncertainty surrounding the Fed's path and the potential for unexpected policy shifts adds to the appeal of safe assets like gold.

And to be perfectly frank, most experts believe that it's likely too late for tariff deals to prevent an economic slowdown and higher inflation, suggesting a slow pivot away from USD and Treasuries, which also benefits gold.

Silver's Sparkle and the Commodity Supercycle on the Horizon

Beyond gold itself, silver has also been shining brightly…

Some reports indicate that silver has been outperforming gold recently. The historical gold-to-silver ratio, which tells you how many ounces of silver it takes to buy one ounce of gold, has been sitting around 80:1.

Recently, it’s jumped as high as 100:1.

is the gold rally over ratio

But historically, this ratio has been much, much lower, closer to 15:1.

This widely out-of-whack ratio suggests that silver is significantly undervalued relative to gold.

And a correction in this ratio, with silver playing catch-up, could mean dramatic moves higher for silver, which in turn often pulls gold along or signifies broader strength in the precious metals sector.

That’s why some experts believe silver is poised for substantial price increases.

To be fair, what we’re witnessing could be the early stages of a historic commodities explosion, or supercycle.

This isn't just about gold; it's a broad market movement…

The drivers for this cycle include a potentially weakening dollar, surging demand for industrial metals fueled by new technologies like AI and electric vehicles, increasing resource nationalism, and the massive amounts of debt and currency creation happening globally.

Gold is often seen as the leader in such cycles, breaking out first, with other commodities following.

And many experts, myself included, believe this rally, this commodities bull market, has significant room to run.

So, while short-term news cycles might cause temporary wobbles, they don't erase the deep-seated economic and geopolitical forces propelling gold higher.

The smart money understands this.

Unlocking Hidden Wealth: The NatGold Revolution

But what if there was a way to get pre-positioned for potentially massive profits from this rally, tapping into a source of value that has been effectively locked away for decades?

What if you could invest in gold reserves that are proven and enormous, but haven't been accessible through traditional means?

You see, there’s a MASSIVE amount of gold sitting in the ground in undeveloped deposits around the world.

Imagine a deposit estimated to hold an incredible 70 million ounces of pure gold. That's over $210 billion worth of gold at current prices.

Because there’s one of those sitting untapped right here in the United States…

This immense wealth has remained largely dormant for decades, often tied up by regulatory hurdles, political opposition, and the sheer complexity of traditional mining projects.

We’re literally talking about a staggering 70 million ounces trapped in bureaucratic purgatory.

Now, imagine being able to unlock this value.

Because that is where NatGold Digital comes in…

NatGold Digital is pioneering a revolutionary approach by tokenizing proven gold reserves.

This isn't like buying a mining stock; it's about digitizing the ownership rights to gold that is already known to exist in the ground.

This process transforms what was once an illiquid asset, tied up in lengthy and uncertain development processes, into liquid, tradeable wealth.

By tokenizing these reserves, NatGold Digital creates a way for investors to gain exposure to the potential upside of these vast gold resources without the typical risks and timelines associated with traditional mining.

It's a win-win scenario: unlocking value for the resource owners and providing investors with a new, accessible way to participate in the gold market.

This approach to unlocking the value of stranded gold assets sets a precedent for how billions of dollars of illiquid, dormant gold assets around the world can be turned into liquid, tradeable wealth.

The Profit Potential You Can't Ignore

We believe this approach to unlocking the value of stranded gold assets is poised to create a tremendous profit opportunity…

This isn't just about the general gold rally; it's about a specific, untapped source of value becoming available to the market for the first time.

The gold is there, the demand is there, and now, the technology is here to connect them.

This transformation of dormant assets into liquid ones, bypassing the environmental or logistical headaches of extraction, offers a unique pathway to profit.

The recent dip in gold prices isn't a sign the rally is over; it's likely just a pause in a much larger movement driven by powerful, long-term trends.

And while gold is already moving, the opportunity to profit from this movement could be significantly amplified by positioning yourself in projects focused on unlocking massive, proven, but currently undeveloped gold reserves.

Don’t Miss the Awakening

So, don't miss out on this historic opportunity.

As the global economic landscape continues to evolve and gold asserts its role as a critical asset, getting pre-positioned in the future of gold investment, represented by innovative approaches like tokenization of proven reserves by entities like NatGold Digital, could be one of the smartest moves you make.

The immense wealth of proven reserves, previously trapped, is now within reach.

The sleeping giant is awakening.

Get ready to profit from it.

To your wealth,

jason-williams-signature-transparent

Jason Williams

follow basic @TheReal_JayDubs

follow basic Angel Research on Youtube

After graduating Cum Laude in finance and economics, Jason designed and analyzed complex projects for the U.S. Army. He made the jump to the private sector as an investment banking analyst at Morgan Stanley, where he eventually led his own team responsible for billions of dollars in daily trading. Jason left Wall Street to found his own investment office and now shares the strategies he used and the network he built with you. Jason is the founder of Main Street Ventures, a pre-IPO investment newsletter; the founder of Future Giants, a nano cap investing service; and authors The Wealth Advisory income stock newsletter. He is also the managing editor of Wealth Daily. To learn more about Jason, click here.

Want to hear more from Jason? Sign up to receive emails directly from him ranging from market commentaries to opportunities that he has his eye on. 

P.S. Trump Just Killed the IRS — and Now It’s Your Turn to Get Paid 

Trump just signed a historic executive order to abolish the IRS as we know it — replacing taxes with direct payouts from a $1 trillion national investment fund. Everyday Americans could soon collect checks worth up to $21,307… but only if they act before the first wave goes out.

Angel Publishing Investor Club Discord - Chat Now

Jason Williams Premium

Introductory

Advanced