$10,000 GOLD Soon! The Coming Gold & Silver Breakout Will Shatter All Expectations - Mike Maloney

Data released by the U.S. Treasury Department revealed a federal budget deficit of $1.307 trillion for the first six months of fiscal year 2025, covering October through March. This marks the second-highest year-to-date deficit, surpassed only by the $1.706 trillion shortfall recorded during the same period in fiscal 2021. The persistent deficit underscores a structural issue within U.S. fiscal policy that relies heavily on continued borrowing and spending, with no near-term plans for reversal.
Mike Maloney of GoldSilver.com believes the current fiscal trajectory could significantly reevaluate gold, potentially reaching $10,000 per ounce if the U.S. returns to a gold-backed monetary system. He acknowledges the uncertainty of such predictions.
Recently, gold has experienced its third major rally in as many weeks, driven by concerns over fiscal instability and currency debasement. This surge began with Asian markets on Monday, with spot gold hitting an all-time high of $3,413.84 per ounce—up nearly 3% in a single day. Key resistance levels have been unable to halt gold’s bullish momentum.
Maloney highlights that if the monetary system shifts to a gold standard, it's important to note that the U.S. has the most significant official gold reserves. While the data may be from 2022 and not fully current, central bank gold holdings generally change slowly, except in China's case. In recent years, China has been actively increasing its gold reserves to lessen its reliance on the U.S. dollar.
This movement isn't isolated. Central banks globally have ramped up their gold purchases as confidence in fiat currencies, particularly the U.S. dollar and wanes. The Reserve Bank emerged as the second-largest buyer of gold in early 2025, acquiring 2.8 tonnes in January and February alone. This follows a robust accumulation of 72.6 tonnes throughout 2024, bringing the total reserves to an impressive 879 tonnes.
While economically feasible, gold revaluation would require congressional approval, making it a politically complex process. Former President Trump has shown interest in auditing U.S. gold reserves at Fort Knox—a move likely necessary before any revaluation. The last full audit was in 1953, and recent curiosity from figures like Elon Musk highlights growing interest in this national asset.
Though regulatory frameworks from past revaluations still exist, applying them today would demand rare bipartisan cooperation. Mike Maloney notes that a proper audit must include bar weights and purities. Much of Fort Knox’s gold is considered lower-purity “coin melt bars” from 1933, around 92% pure, far below today’s 99.9% standard. A thorough audit would be key to uncovering the' true state and potential value of U.S. gold holdings.

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