A modern-day gold rush

Have you looked at the price of gold lately? As I write these words on this sunny February afternoon, the spot price of gold is hovering around $5,100 per ounce—give or take a few dollars depending on the exact minute you check. That’s right, over five grand for a single troy ounce of the shiny yellow stuff! It’s a far cry from the $300–$400 levels I remember from my younger days, and the climb feels relentless.

Why the surge? Because of uncertainty about the future, leading to anxiety and speculation. We have wars and rumors of wars (which the Bible mentions in Matthew 24) like no time that I can remember in my 82 years. From ongoing conflicts in Ukraine, extreme military buildup surrounding Iran and the Middle East, to escalating tensions in the Caribbean nations, and China threatening to invade Taiwan. The world feels more volatile than ever. Add in deep cultural, political, and theological divisiveness, and it’s no wonder people are anxious.

Inflation worries, massive national debt, and whispers of de-dollarization abroad also have folks looking for something solid to hold onto.

Even our own USA currency, the mighty dollar, which is still the world’s reserve currency, isn’t immune to doubts. In fact, several states have taken advantage of a little-known provision of the U.S. Constitution—Article I, Section 10, Clause 1—which states that no state shall “make any Thing but gold and silver Coin a Tender in Payment of Debts.” This clause essentially prohibits states from forcing paper or other non-precious-metal currencies to be the only legal tender, but it allows them to recognize or facilitate gold and silver as valid money. States like Utah, Louisiana, Oklahoma, Wyoming, Arkansas, and, more recently, Florida and Texas have passed laws recognizing gold and silver (often specific coins) as legal tender, removing sales taxes on them, or setting up ways for residents to use precious metals in transactions.

But no state has gone as far as Texas, which has actually built its own gold bullion depository—the Texas Bullion Depository in Leander, Texas. Established back in 2015 and expanded since, it’s the nation’s first state-administered precious metals vault. Texas has been actively building its holdings, repatriating gold from places like New York and launching state-branded bullion products in recent years, including 1-ounce gold and silver coins and even innovative “Texas Gold Bills” (thin notes with embedded 24-karat gold layers). While the depository focuses on domestic storage and sales, reports indicate Texas has facilitated significant inflows of gold from other states and private sources to bolster reserves. The goal? Give Texans a hedge against federal currency risks and promote “sound money.”

All this considered, you can see why more folks are acquiring gold bars, coins, or even those fancy new state products. But here’s the bottom line: No matter how much gold you’re able to hoard, and no matter how high the price of gold gets, it will not take away your anxiety and bring you peace. Gold might protect your wealth from inflation or economic turmoil to some degree, but it can’t calm a troubled heart, mend broken relationships, or give you eternal security.

That only comes from the true “Golden Rule”—  the greatest commandments straight from Jesus in Matthew 22:37-39: “Thou shalt love the Lord thy God with all thy heart, and with all thy soul, and with all thy mind. This is the first and great commandment. And the second is like unto it, Thou shalt love thy neighbor as thyself.”

In a world chasing shiny metals and safe havens, the real treasure is a relationship with God and love for one another. Gold can glitter, but it can’t forgive sins, offer hope beyond the grave, or fill the emptiness that uncertainty creates. I’ve seen friends and neighbors chase riches—stocks, real estate, precious metals—only to find the anxiety follows them anyway. True peace comes when we anchor our lives in those two commandments: loving God fully and loving our neighbors as ourselves.

So, by all means, if it fits your financial plan, consider a little gold for diversification—especially in these uncertain times. But don’t let it become your god. Store up treasures in heaven instead, where moth and rust don’t destroy, and where thieves can’t break in (Matthew 6:19-20). In the end, that’s the only “gold” that lasts forever.

Thanks for reading All About Seniors. See you next week!

Bill Milby is a Director of Visiting Angels® of Central Georgia, a non-medical, living assistance service for seniors. If you have questions or comments about this column, you can reach him at william.mercylink@gmail.com or search for us at  https://www.facebook.com/VisitingAngelsofCentralGA.