We're up about 150%. The last gold bull ran past 500%. History says we're early.
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For 20 years, I've watched what central banks do with their gold. |
The pattern I see now? I've seen it once before – right before gold tripled. |
People keep telling me gold has had its run and the easy money is gone. |
I get it. The price has cooled off from where it peaked earlier this year, and pullbacks make people nervous. |
But history says it’s time to buy... |
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Gold bull markets indexed by length and return. Source: Bloomberg · Katusa Research. |
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This chart lines up the great gold bull markets by length and size. |
The current one, in green, is about 47 months old and up roughly 150%. The 2000s bull ran 139 months and past 500%. The 1970s bulls ran hot for years.
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In short, this gold bull market has a long way to go… |
Here’s the Fuel… |
Central banks bought 863 tonnes of gold in 2025, the fourth straight year at more than double the historical average. |
For the first time since 1996, foreign central banks hold more gold than U.S. Treasuries. |
Central banks are buying at the fastest pace in decades… |
But here’s what’s changed: |
New players in the market are buying as much as the central banks, if not more. |
And the newest whale isn’t a country at all: |
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With around 140 tonnes and $24 billion of gold… |
Hauling one to two tons a week into a Swiss vault. |
This past winter, it bought more gold than every central bank except Brazil and Poland. |
Nobody had that buyer on their list a year ago. |
So no matter what… I believe gold now has a floor under it… |
And when the price of gold moves a little… the right small gold stocks move a lot. |
Three of those names are waiting for you in your second free report, called The 3 Best Gold Stocks to Buy Now… |
And the 10th anniversary KRO price that gets you that report — $1,499 — closes on July 12th at Midnight. |
[ CLAIM THE 2016 PRICE →] |
Marin Katusa
Founder, Katusa Research |
P.S. You don't have to decide today whether a KRO membership is right for you. Join now, read everything, and if it's not for you, email my team any time in the next 30 days for a full refund. No questions asked. |
The only thing that won't wait is the price — $1,499 closes on July 12th at Midnight. After that, it's gone for good. |
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