ClearValue Tax, Interest Rates, And Gold

For a deeper dive, please reference our related blog post on gold:
https://www.belvedereinvestmentsco.com/blog/expect-gold-to-climb-higher-in-2026

Gold is currently benefiting from powerful tailwinds across the global macro landscape. Fiscal discipline has eroded in many major economies, with persistent deficits and continued monetary expansion undermining confidence in fiat currencies. If central banks move toward rate cuts and real interest rates fall below—or even approach—the rate of inflation, the opportunity cost of holding cash becomes increasingly unattractive. Earning 2–3% in a savings account offers little protection against inflation or currency debasement. In this environment, gold’s role as a store of value becomes increasingly compelling. Much like the 1970s, the current macro backdrop could set the stage for a multi-year—or even decade-long—period of strong performance for gold.