The Dollar Itself Is Now a Risky Asset: Why Central Banks Around the World Are Buying Gold Like Crazy; Gold Must Break $20,000 per Ounce Before the Cycle Ends (Gold Investment) - Stackers CEO Cho Kyu-won

Summary

Stackers CEO Cho Kyu-won argues that gold is in a secular bull market driven by central-bank buying, de-dollarization, US fiscal deterioration, and the dollar's loss of safe-haven status. He expects this cycle to carry gold to at least $20,000 per ounce and sees silver as a higher-volatility beneficiary with an added supply-side squeeze. He also explains when Korean investors should choose physical gold or the KRX gold market versus gold ETFs based on the local premium.

• Gold is framed as a paradigm shift, not a geopolitical one-off.
• Central banks are buying gold because dollar value and trust are weakening.
• US debt, deficits, and de-dollarization support long-term dollar weakness.
• Silver follows gold with higher volatility and has a supply deficit plus China export-control risk.
• Geopolitical de-escalation-driven gold dips are viewed as buying opportunities.
• Rate cuts are helpful but not required; inflation-driven hikes can still accompany higher gold.
• Korean investors should compare physical gold or the KRX gold market versus ETFs using the kimchi premium.
• The speaker targets at least $20,000 per ounce before the gold cycle ends.