Three major Wall Street banks are making a bold call on gold.

What’s the best way to profit? It’s NOT gold coins. It’s NOT gold ETFs. And it’s NOT gold mining stocks.

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Wells Fargo's bull case targets $8,000 an ounce — a near-doubling from the recent spot price of around $4,700. JPMorgan sees the same number by end of decade. Goldman Sachs recently lifted its year-end target to $5,400.

That kind of Wall Street consensus is worth paying attention to.

The thesis behind all three forecasts is what strategists are calling the **"debasement trade."**

We're currently in the fourth major debasement cycle since the 1930s — a period where rising debt, deficits, and money supply growth erode the real value of fiat currencies like the U.S. dollar. In those environments, investors historically rotate into gold as a store of value.

The data backs this up. Central banks have been buying gold at a record pace.

**For the first time since 1996, gold now makes up a larger share of global central bank reserves than U.S. Treasuries.** That's not a footnote — that's a structural shift in how the world stores wealth.

These cycles average 8.5 years. The current one started in 2022, meaning we're only about 3.5 years in. His model shows four out of five economic scenarios pointing to further debasement from here.

Now here's where the opportunity comes in.

Gold just posted its worst month since June 2013 — falling more than 10% in March. The selloff was tied to the ongoing U.S.-Iran war, which drove oil prices higher, pushed bond yields up, and strengthened the dollar. Investors sitting on big gains also took profits.

Wells Fargo views that pullback as a reset toward "fair value" around $4,500. Goldman Sachs called the selloff an entry point, reiterating its $5,400 year-end target and noting that medium-term risks are "skewed to the upside."

In other words — the banks that are most bullish on gold long-term are using this dip to make their case louder.

**So, what's the best way profit with gold?**

When I'm looking for leverage to the gold price, I prefer gold mining stocks over physical gold. The math is simple. A miner with fixed production costs around $1,400 per ounce is earning roughly $3,300 in margin at today's spot price. If gold moves toward $5,400 or $6,000, that margin expands dramatically — without any change in costs.

That's why miners have outperformed the metal itself so significantly over the past year. The **VanEck Gold Miners ETF (GDX)** is the most straightforward way to get diversified exposure to the sector.

My view is that the debasement trade is real, it's not over, and last month's pullback looks more like an entry point than a warning sign.

One undiscovered company is quietly sitting on the world’s richest gold deposit. It literally has 100x more gold per tonne than a conventional gold mine.

America’s new gold producer is currently PRIVATE. And raising $30 million from individual investors before going public. I’m personally writing a big check in the deal.

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Ian Wyatt
Editor, Daily Profit


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