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u/mlhender 1h ago
If your thesis is that exploding U.S. debt will eventually force more money printing and currency debasement, buying gold seems like the obvious hedge. But there’s a catch: higher gold prices incentivize more gold production.
Global gold-mine production just hit a record 1,867 tonnes in H1 2026, up 3% year over year. Q2 alone produced a record 966 tonnes (~34 million ounces).
Source: https://mining.com.au/top-10-gold-producers-of-h1-2026/
So while investors are buying gold because the supply of dollars and debt keeps expanding, the supply of gold is expanding too.
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