On this episode of America’s Gold Authority® Podcast, host Mike Barnes is joined by Philip N. Diehl, President of U.S. Money Reserve and former Director of the U.S. Mint, and Brad Chastain, U.S. Money Reserve’s Managing Director and Global Head of Research, to examine how gold has performed against tech stocks and the broader market over the past 25 years.
They break down the boom-and-bust cycles that have shaped technology stocks since the dot-com era, including the impact of market crashes, IPO speculation, and shifting market behavior. The discussion highlights why many technology stocks struggle after going public, how timing often determines outcomes, and why diversification remains critical in volatile sectors.
Diehl and Chastain also explore the structural changes that have supported stock market gains over the last decade, including corporate buybacks, quantitative easing, and the growing concentration of market performance among a handful of large technology firms. As new AI-related IPOs prepare to enter the market, they explain why consumers may face increased risk despite the excitement surrounding emerging technologies.
The episode compares gold’s long-term performance against both the S&P 500 and technology stocks, demonstrating how gold has delivered strong returns through recessions, financial crises, inflationary periods, and market recoveries alike. While stocks and technology sectors experienced deep drawdowns during multiple downturns, gold consistently preserved and continued advancing over time.
U.S. Money Reserve is widely known as one of the country’s largest private dealers of government-minted gold, silver, platinum, and palladium. It’s the only precious metals firm guided by two former U.S. Mint Directors, giving the company unrivaled institutional insight. Having served more than one million customers and processed over $4.4 billion in transactions, U.S. Money Reserve is widely trusted for helping Americans safeguard their financial future.
