Gold Price Rises to Record High Amid Gamma Squeeze Thesis

The gold price has already reached $5,589.38 an ounce in January 2026, surpassing the predicted target of $5,000.

This marks a significant milestone for the thesis that a 'gamma squeeze' will drive up gold prices to $7,500 by 2027.

The gamma mechanism is real and proven, manufacturing spikes rather than plateaus. However, it requires steady flow underneath it to sustain these price movements.

The current market setup is strong, with the U.S. debt reaching $40 trillion, a 19-year high in the 30-year Treasury yield, and the Treasury stepping in to cap the long end of the bond market.