Philip Diehl

Gold is in a long-term bull market driven by central bank buying, geopolitical uncertainty, inflation, Chinese retail demand, supply constraints, and a shift in portfolio allocation recommendations. He urges investors to buy physical gold on dips, as the positive forces are structural and likely to persist for years. Gold has outperformed the S&P 500 over the last 25 years and is expected to continue outperforming over the next decade due to lower equity return expectations and gold's unique store-of-value properties.