Automatically receive the internet’s most informative articles bi-weekly via our free bi-weekly Market Intelligence Report newsletter (sample here). Register in the top right hand corner of this page.
10 years ago every “analyst” and his brother was hyping the future price of gold and I kept track of their guesses in an article (here). None of their forecasts “panned” out (pun intended) but some are back at it again suggesting that we are going to see gold going as high as $20,000. Take a look below.
By Lorimer Wilson , editor of munKNEE.com – Your Key To Making Money!
Here are the most current (i.e. within the last year) forecasts for the price of gold:
$20,000 Gold
1. Goldrunner: $20,000 between mid-2028 and end of 2029
- Back in April 2011 Goldrunner correctly projected the $1,920 high in an article entitled Goldrunner: Gold on Track to Reach $1860 to $1,920 by Mid-year (gold reached $1,917.20 in late August and $1,923.70 in early September, 2011) and now, “as a result of the recent massive paper money printing, our chart work suggests that gold could possibly spike up to as high as $20,000 per ounce, or even a bit higher.” Source
2. Pierre Lassonde: $20,000 in 2 – 5 years
- “Gold prices should skyrocket to much higher levels, even $20,000 in two to five years’ time, as gold reaches a price level close to the level of the Dow Jones Industrial Index.” Source
3. Egon Von Greyerz: $20,000
- “I believe a gold price of $20,000 is very probable, even without high inflation.” Source
$10,000 Gold
1. James Rickards: $10,000
- “$10,000 an ounce is not pie in the sky. It’s not a number I pulled out of a hat to get headlines. It’s the actual mathematical implied non deflationary price of gold.” Source
2. Frank Holmes: $10,000
- “What’s stopping gold from soaring to $10,000?” Source
3. Daniel Oliver: $10,000
- “The money to push gold over $10,000 per ounce has already been printed and now they are going to print more…No doubt strong fiscal and monetary intervention may extend its life for a time, but then the ultimate price objective for gold will then be markedly higher.” Source
4. Max Keiser: $10,000
- To deal with the disaster of “trash fiat money” choking the global economy, a new gold standard will need to be introduced “and to make it work, we will see gold’s price top $10,000 per ounce.” Source
5. Adam O’Dell: $10,000
- “the price is guaranteed to hit near $10,000.” Source
6. AG Thorson: $7,000 – $10,000
- “By the end of this decade, we expect gold to reach $7,500 – $10,000.” Source
7. Peter Schiff: $5,000 to $10,000
- The minimum projection for the price of gold is $5,000 to $10,000 an ounce, and he says the Dow Jones Industrial Average, which is now valued at about 12 times the price of gold, will trade at just 7.5 times instead. Eventually, he sees gold and the Dow trading at even money. Source
8. Don Durrett: $3,000 to $10,000
- “My price targets for gold are $3,000 to $10,000.” Source
$7,000 -$9,000 Gold
1. Florian Grummes: $8,000 to $9,000 in 5 to 10 years
“We could end up having gold at $8,000 to $9,000 gold in five to 10 years.” Source
2. Ronald-Peter Stoeferle and Mark Valek: $4,800 to $8,900 by 2030
“The proprietary valuation model shows a gold price of USD 4,800 at the end of this decade, even with conservative calibration. Should money supply growth develop in a similar inflationary manner to that of the 1970s, a gold price of USD 8,900 is conceivable by 2030.” Source
3. Gov Capital: $5,837 by 2023); $7,220 by 2024); $8,531 by 2025
- “5 year gold forecast: $8530.74” Source
4. Jason Hamlin: $4,000 to $8,000 by 2025
- “We fully expect to see the gold price close out the year 2025 somewhere between $4,000 and $8,000 per [troy] ounce.” Source
5. Jeff Clark: $3,000 to $8,000 in 5 years
- “Potential 5-Year high: $3,000 to $8,000.” Source
6. Charlie Morris: $7,166
- “A bullish target for $7,166 is both logical and plausible.” Source
$4,000 – $5,000 Gold
1. Rob McEwen: $5,000
- The founder of Goldcorp Inc. is sticking with his bold prediction that gold will soar almost fourfold to $5,000 an ounce, bolstered by a weaker dollar and waning demand for trendy assets like pot stocks. Source
2. Peter Schiff: $5,000
- “Gold will reach $5,000.” Source
3. Victor Dergunov: $5,000 in 3-5 years
- “Gold at $5,000 in 3-5 years seems plausible, and it is likely to continue to go higher after that.” Source
4. David Morgan: $5,000 by end of decade
- “Gold could hit $5,000 an ounce this decade, especially as the greenback loses purchasing power.” Source
5. Moe Zulfiqar: $5,000 by 2030
- ” It wouldn’t be shocking to see gold at $5,000 an ounce or more by 2030. ” Source
6. Brian Whitfield: $5,000 by 2030
- “I feel I am safe, and being conservative in saying that gold should be trading between $3000 – $5000 per ounce in ten years. Should the US dollar fail and/or the US dollar loses the coveted global reserve currency status and/or even the loss of the petrodollar, gold could hit these level far sooner.” Source
7. Chris Wood: $4,200
- “A long-term bullish view is maintained on gold bullion, with the ultimate price target still set at US$4,200/oz..” Source
8. Ole Hansen: $4,000
- “$4,000 probably is a little bit far-fetched as the world looks right now, but if you look years into the future, then that is possible because the repercussions of what we’re going through right now with the pandemic and the aftermath is going to be something that’s going to be felt for at least this generation and potentially beyond.” Source
9. Geraldo Del Real: $3,000 to $5,000
- “I actually think US$3,000 to US$5,000 is very reasonable.” Source
10. Thomas Kaplan: $3,000 to $5,000 by 2030
- “Gold prices could rally as high as $3,000 to $5,000 within a decade.” Source
11. David Rosenberg: $3,000 to $5,000
- “A $3,000 to $5,000 target…is fundamentally justified based on the facts we have today.“ Source
12. Gary Christenson: $3,000 to $5,000 by 2022
- “a reasonable “status quo” valuation for gold in 2021 is around $3,000. Prices will fall below and occasionally spike much higher than the valuation so a gold price of $5,000 in 2020 – 2022 is plausible.” Source
13. Shaun Djie: $3,000 to $4,000 within 10 years
- “In the next 10 years, gold will continue to be volatile. Gold could trade anywhere between the levels of $3,000 or $4,000 in the next ten years…given how much cash will be potentially put into the economy.” Source
$3,000 – $3,500 Gold
1. Chris Vermuellen: $3,500
- “Expect to see an ultimate peak price in gold well above $3,500.” Source
2. Bank of America: $3,000 by end of 2021
- BoA raised its 18-month price target for gold to $3,000 an ounce citing the prospects of endless monetary expansion from central banks, including the Federal Reserve, to limit the economic damage from the COVID-19 pandemic. Source
3. WingCapital Investments: $3,000
- “Using the post-2008 GFC bull market as a guideline, during which gold more than doubled after the Lehman debacle within the ensuing 3 years, $3,000 would be a reasonable long-term target in our opinion.” Source
4. Tony Hayes: $3,000 by end of 2020
- “It seems certain that US$ 2,000 per ounce will soon be exceeded and probably be above US$ 3,000 per ounce by year-end.” Source
5. Barry Dawes: $3,000 within 2-3 years
- “I expect to see US$3,000/oz in gold over the next 30 months.” Source
6. Kirk Spano: $3,000
- “The inevitable outcome is inflation and that devalues currencies and overwhelms government debts and that will drive gold to as high as $3,000 per ounce.” Source
7. Brian Lundin: $3,000 by 2024
- “I think we’ll set a new record in real terms, exceeding $3,000, at some point over the next four years or so.” Source
8. Byron King: $3,000
- “I think Bank of America is on track. I don’t think there’s any question gold will see $3,000. As with all things in life, it’s just a question of how long it will take.” Source
9. Ben Morris and Drew McConnell: $3,000
- “$3,000 an ounce isn’t a long shot.” Source
10. Alex Mashinsky: $3,000 by end of 2021
- Mashinsky sees gold climbing to $3,000 an ounce by the end of next year but admits that even more gains are possible depending on how bad the currency debasement gets. Source
11. Robert Kiyosaki: $3,000 within 1 year
- “Predict $3,000 gold in 1 year.” Source
12. Stewart Thomson: $3,000
- “Queen Gold is assured of launching above the key $2000 price zone, ready to begin a rocket blast towards my medium-term $3000 target!” Source
13. Leon Wilfan: $3,000 in 2021
- “If the economy contracts further and we enter a protracted recession, then gold could rise…reach $3,000 in 2021.” Source
What do you think of the above price forecasts? Have your say in the “Comments” section below. Also, if I have missed other analyst forecasts (they must be with the last year) please mentioned them below and I will include them in a future article.
About Lorimer Wilson
Lorimer Wilson is an economic & financial commentator who has written numerous articles on economics, finance, precious metals, and rare earth metals. He is the Editor of munKNEE.com a site that provides a selection of the internet’s best finance articles in an edited, reformatted and abridged format to ensure a fast and easy read. He is also a frequent contributor to TalkMarkets.com, eResearch.com and Gold-Eagle.com
The post Gold Forecast Update: Even More Analysts Say $3,000 Is Assured; $10,000 Is Likely; $20,000 Is Possible (+2K Views) appeared first on munKNEE.com.