Money of Mine What Gold’s Past Tells Us About Its Future
Nov 5, 2025
Sean Russo, a gold-market analyst and mining historian, shares his deep insights into the gold cycle and market dynamics. He delves into how historical trends inform present strategies and discusses critical ratios that signal current market shifts. Russo reveals the dual influence of a declining dollar and gold’s performance relative to equities, while also addressing why some investors, despite their aversion to gold, ultimately end up buying it. Plus, he explores Asia's unique relationship with gold as a financial safeguard.
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Dual Tailwinds Drive Gold
- Gold performs best when the US dollar trends down and gold outperforms general equities simultaneously.
- Those dual tailwinds create 'rocket fuel' for gold rallies like 2000–2011.
Dow–Gold Ratio Signals Regime Shifts
- The Dow‑gold ratio crossing historical thresholds often precedes structural shifts in markets.
- When it falls below levels like 16, history shows increased volatility and strong gold flows.
GMO Owned Gold Despite Hating It
- Jeremy Grantham's firm hated gold but owned it from 2009 until equities outperformed again in 2012.
- They found it was one of the best performers yet were relieved to sell when the ratio flipped back.