Rick Harrison, a star of Pawn Stars, recently discussed why so many investors are flocking to the gold market on The Claman Countdown. Harrison explained that gold prices have hit record highs multiple times this year, rising by more than 11% so far. This surge comes amidst growing calls for a Fort Knox audit, a suggestion backed by figures like Elon Musk, as concerns about the U.S. gold reserves intensify.

“Gold prices have hit a record high nine times this year,” Harrison said, noting the price’s significant rise. “We should probably audit Fort Knox. There’s no reason not to, and if people argue against it, that only makes the case stronger.”

Harrison, who owns the Gold & Silver Pawn Shop, also pointed out that suppliers are struggling to meet the demand for gold and silver. “My suppliers can’t get enough gold and silver,” he said. “In fact, places like South Korea have even banned retail sales because the government is buying up all the gold.”

As of now, Fort Knox holds 147.3 million ounces of gold, according to the U.S. Mint.

Harrison attributes the increased interest in gold and silver to inflation and the government’s practice of “printing money like confetti.” He explained that this practice is fueling public concern.

“We’re printing money like confetti, and it’s making a lot of people nervous,” Harrison said. “The government’s biggest expense is paying interest on $36 trillion in debt. We’ll never pay that off, so the only options are inflating the currency or monetizing the debt—both of which lead to inflation. That’s why gold and silver are so popular now.”

Harrison also noted that the price of gold has skyrocketed compared to its 1974 price of under $200 per ounce. Today, gold is priced at $2,940 per ounce, according to JM Bullion.

Despite the soaring prices, Harrison emphasized that gold is still a safe investment for those concerned about inflation. “When we were on the gold standard, inflation was nearly nonexistent because the money supply couldn’t be expanded at will,” he explained. “But now, with the government expanding the money supply at an unprecedented rate, it’s causing inflation. That’s why more people are turning to gold and silver as a hedge.”

Harrison’s concerns echo a broader debate about the effects of inflation and government monetary policy, highlighting the growing importance of gold as a financial safeguard in uncertain times.