Is America Truly Entering a Golden Age?

Regardless, the Future Looks Bright for Gold

References to the coming “golden age” keep popping up in presidential speeches and political posts, prompting some gold enthusiasts to wonder whether the mentions are symbolically meaningful or figurative hyperbole.

“This will truly be the golden age of America,” President Donald Trump declared during his election night victory celebration in West Palm Beach, Fla., on Nov. 5.

“The golden age of America begins right now,” Trump stated in the opening of his inaugural address on Jan. 20 in Washington, D.C.

“This truly will be the golden age of America,” Trump posted on his presidential X account the same day.

Shortly after the U.S. Senate confirmed Scott Bessent as Treasury secretary on Jan. 27, a post appeared on an X account with his name and likeness.

“As Treasury Secretary, I'm committed to eliminating income taxes, replacing them with a fair consumption tax, and adopting a gold-backed currency. We’ll erase debt, restore financial privacy, and unlock the technologies for a prosperous future. The golden age starts now,” read the post, which presumably was a prank by a gold-loving impostor or hackers because it disappeared a few hours later.

Even the White House’s X account maintains the declaration: “The Golden Age of America Begins Right Now.”

So, will America’s future be truly golden, or will it be a filled with a plethora of decorative glitter, fool’s gold and politically-gilded assertions? And how can a nation that’s $36 trillion in debt have a peaceful and prosperous future without returning to sound money?

Developments Suggest Favorable Prospects for Gold

Even if the president’s statements are embellished oratory and metaphorical rhetoric, recent developments indicate the future for gold and gold holders is bright.

1) At $2,800 an ounce and rising, the gold price is at an all-time high.

2) The London Bullion Market Association (LBMA) has delayed fulfillment of gold withdrawal requests by four to eight weeks, according to the Financial Times, suggesting a physical metal shortage, possible derivatives fraud exposure and potential default, which would sent prices skyward.

3) Central banks continue to accumulate record amounts of gold, according to the World Gold Council, buying 1,045 tons in 2024, the 15th consecutive year of net purchases.

4) The BRICS nations (Brazil, Russia, India, China, South Africa and others) are contemplating creation of a “common unit of account,” of which 40 percent would be pegged to the value of gold.

5) African countries, including Burkina Faso, Ghana and Zimbabwe, are issuing gold coins and gold-back currencies to combat inflation and stabilize their economies.

“In the modern era, gold continues to play a critical role in the global financial system, serving as a hedge against inflation, a safe haven asset, and a reserve asset for central banks,” wrote Kamol Alimukhamedov, author of the “Gold Investing Handbook for Asset Managers,” published by the Washington, D.C.-based World Bank in 2024.

“The role of gold as a reserve asset for central banks has been a significant driver of demand for the precious metal,” added Alimukhamedov, the deputy managing director of the Central Bank of Uzbekistan, in the handbook’s introduction.

Multiple Catalysts Will Drive Gold Prices Higher

Cumulatively, economic realities, market dynamics and monetary adjustments point to rising gold demand and tightening supply. Those catalysts will translate into higher gold prices as long as nations and individuals seek time-tested alternatives to depreciating U.S. dollars and other fiat currencies amid spiraling government debts and deficits.

The nation’s last golden era for goldbugs was during the Gilded Age. Under the gold standard between the 1870s and 1920s, the U.S. economy boomed and vast fortunes were made. Banking moguls, business tycoons and industrial magnates prized gold as wealth. They amassed great fortunes by accumulating the yellow metal.

“Money is gold, and nothing else,” banker J.P. Morgan said in 1912.

While billionaire Trump may not have the same affinity for gold as the bullion barons of the last century, it’s unlikely he can usher in a sustained “golden age” in the United States without a return to sound money. That would require a significant revaluation of the nation’s gold holdings—officially valued at $42.22 a troy ounce—to reduce or liquidate its massive debts.

Let’s just hope the bullion depository vaults in Denver, Colo., Fort Knox, Ky., and West Point, N.Y., contain the 8,133 tons of gold the U.S. Treasury claims on its balance sheet. That’s something the new Treasury secretary should confirm with an authentic audit.

Otherwise, a true golden age is out of the question.

© 2025 Stuart Englert. All rights reserved.

Englert is the author of “Rigged: Exposing the Largest Financial Fraud in History.”