Best of the Week
Most Popular
1. TESLA! Cathy Wood ARK Funds Bubble BURSTS! - 12th May 21
2.Stock Market Entering Early Summer Correction Trend Forecast - 10th May 21
3.GOLD GDX, HUI Stocks - Will Paradise Turn into a Dystopia? - 11th May 21
4.Crypto Bubble Bursts! Nicehash Suspends Coinbase Withdrawals, Bitcoin, Ethereum Bear Market Begins - 16th May 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.Cathy Wood Ark Invest Funds Bubble BURSTS! ARKK, ARKG, Tesla Entering Severe Bear Market - 13th May 21
7.Stock Market - Should You Be In Cash Right Now? - 17th May 21
8.Gold to Benefit from Mounting US Debt Pile - 14th May 21
9.Coronavius Covid-19 in Italy in August 2019! - 13th May 21
10.How to Invest in HIGH RISK Tech Stocks for 2021 and Beyond - Part 2 of 2 - 18th May 21
Last 7 days
Stock Market FOMO Hits September CRASH Brick Wall - Dow Trend Forecast 2021 Review - 20th Sep 21
Two Huge, Overlooked Drains on Global Silver Supplies - 20th Sep 21
Gold gets hammered but Copper fails to seize the moment - 20th Sep 21
New arms race and nuclear risks could spell End to the Asian Century - 20th Sep 21
Stock Market FOMO Hits September Brick Wall - Dow Trend Forecast 2021 Review - 19th Sep 21
Dow Forecasting Neural Nets, Crossing the Rubicon With Three High Risk Chinese Tech Stocks - 18th Sep 21
If Post-1971 Monetary System Is Bad, Why Isn’t Gold Higher? - 18th Sep 21
Stock Market Shaking Off the Taper Blues - 18th Sep 21
So... This Happened! One Crypto Goes From "Little-Known" -to- "Top 10" in 6 Weeks - 18th Sep 21
Why a Financial Markets "Panic" May Be Just Around the Corner - 18th Sep 21
An Update on the End of College… and a New Way to Profit - 16th Sep 21
What Kind of Support and Services Can Your Accountant Provide? Your Main Questions Answered - 16th Sep 21
Consistent performance makes waste a good place to buy stocks - 16th Sep 21
Dow Stock Market Trend Forecasting Neural Nets Pattern Recognition - 15th Sep 21
Eurozone Impact on Gold: The ECB and the Phantom Taper - 15th Sep 21
Fed To Taper into Weakening Economy - 15th Sep 21
Gold Miners: Last of the Summer Wine - 15th Sep 21
How does product development affect a company’s market value? - 15th Sep 21
Types of Investment Property to Become Familiar with - 15th Sep 21
Is This the "Kiss of Death" for the Stocks Bull Market? - 14th Sep 21
Where Are the Stock Market Fireworks? - 14th Sep 21
Play-To-Earn Cryptocurrency Games Gain More and Is Set to Expand - 14th Sep 21
The CashFX TAP Platform - Catering to Bull Investors and Bear Investors Alike - 14th Sep 21
Why every serious investor should be focused on blockchain technology - 13th Sep 21
SPX Base Projection Reached – End of the Line? - 13th Sep 21
There are diverse ways to finance the purchase of a car - 13th Sep 21
6 Tips For Wise Investment - 13th Sep 21 - Mark_Adan
Gold Price Back Below $1,800! - 10th Sep 21
The Inflation/Deflation debate wears on… - 10th Sep 21
Silver Price seen tracking Copper prices higher - 10th Sep 21
The Pitfalls of Not Using a Solicitor for Your Divorce - 10th Sep 21
Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
This Boom-Bust Cycle in US Home Ownership Should Give Home Shoppers Pause - 9th Sep 21
Stock Market September Smackdown Coming Next? - 9th Sep 21 - Monica_Kingsley
Crazy Crypto Markets How to Buy Bitcoin, Litecoin for Half Market Price and Sell for TRIPLE! - 8th Sep 21
Sun Sea and Sand UK Holidays 2021, Scarborough in VR 180 3D! - 8th Sep 21
Bitcoin BTC Price Detailed Trend Forecast Into End 2021 - 8th Sep 21
Hyper Growth Stocks - This billionaire is now using one of our top strategies - 8th Sep 21
6 common trading mistakes to avoid at all costs - 8th Sep 21
US Dollar Upswing, S&P 500 and Nasdaq Outlook - 7th Sep 21
Dovish Assassins of the USD Index - 7th Sep 21
Weak August Payrolls: Why We Should Care - 7th Sep 21
A Mixed Stock Market - Still - 6th Sep 21
Energy Metals Build Momentum; Silver & Platinum May Follow - 6th Sep 21
What‘s Not to Love About Crypto Market Fireworks - 6th Sep 21
Surging US Home Prices and Gold – What’s the Link? - 6th Sep 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Gold $3K to $20K Coming? These Pundits (now 34) Think So!

Commodities / Gold & Silver 2020 May 04, 2020 - 09:25 AM GMT

By: Lorimer_Wilson

Commodities

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 entitled “Gold Going To $2500, $5000, $10000, Even More? These 148 “Analysts Think/Thought So“. 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.


Here are the most current (i.e. within the last year) forecasts for the price of gold:

1. Goldrunner: $20,000 between mid-2028 and end of 2029

  • “Our price target back in 2006/2007 for gold was in the $10,000 to $12,000 range but now, as a result of the recent massive paper money printing, we have had to lengthen the “time component”  and the “time delays” in our chart work which suggests that gold could possibly spike up to as high as $20,000 per ounce, or 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. 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

4. Frank Holmes: $10,000

  • “What’s stopping gold from soaring to $10,000?” Source

5. Egon Von Greyerz: $10,000

  • “I don’t like making sensational forecasts…[but] 10x today’s price or $17,000 is certainly realistic…Gold adjusted for real inflation would be at $18,100 to be equal to the 1980 top of $850… [As such,] my 18 year old target of $10,000 in today’s money is virtually guaranteed.”  Source

6. 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

7. 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

8. AG Thorson: $7,000 – $10,000

  •  “By the end of this decade, we expect gold to reach $7,500 – $10,000.” Source

9. 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

10. Gov Capital: $5,837 by 2023); $7,220 by 2024); $8,531 by 2025

  • “5 year gold forecast: $8530.74″ Source

11. Charlie Morris: $7,166

  • “A bullish target for $7,166 is both logical and plausible.” Source

12. Jeff Clark: $3,000 to $8,000 in 5 years

  • “Potential 5-Year high: $3,000 to $8,000.” Source

13. 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

14. Rob McEwen: $5,000

  • The founder of Goldcorp Inc. is sticking with his bold prediction that precious metal will soar almost fourfold to $5,000 an ounce, bolstered by a weaker dollar and waning demand for trendy assets like pot stocks. Source

15. Peter Schiff: $5,000

  • “Gold will reach $5,000.” Source 

16. 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

17. David Morgan: $5,000 by end of decade

  •  “Gold could hit $5,000 an ounce in the decade ahead, especially as the greenback loses purchasing power.” Source

18. Moe Zulfiqar: $5,000 by 2030

  • ” It wouldn’t be shocking to see gold at $5,000 an ounce or more by 2030. ” Source

19. 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

20. Don Durrett: $3,000 to $10,000

  • “My price targets for gold are $3,000 to $10,000.” Source

21. Geraldo Del Real: $3,000 to $5,000

  • “I actually think US$3,000 to US$5,000 is very reasonable.” Source

22. 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

23. David Rubinstein: $3,000 to $5,000

  • “A $3,000 to $5,000 target…is fundamentally justified based on the facts we have today.” Source

24. 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

25. 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

26. Chris Vermuellen: $3,500

  •  “Expect to see an ultimate peak price in gold well above $3,500.” Source

27. 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

28. 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

29. Tom 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

30. Barry Dawes: $3,000 within 2-3 years

  • “I expect to see US$3,000/oz in gold over the next 30 months.” Source

31. 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

32. 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

33. 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 

34. Ben Morris and Drew McConnell: $3,000

  • “$3,000 an ounce isn’t a longshot.” 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.

Lorimer Wilson is editor of www.munKNEE.com (Your Key to Making Money!), publisher of a daily FREE Financial Intelligence Report which can be subscribed to here and a frequent guest contributor to www.PreciousMetalsWarrants.com which also offers a FREE newsletter (sign up here) and a subscription service (see details here).

Disclaimer: Please understand that the above is just the opinion of a small fish in a large sea.  None of the above is intended as investment advice, but merely an opinion of the potential of what might be.  Simply put:

The above is a matter of opinion and is not intended as investment advice. Information and analysis above are derived from sources and utilizing methods believed reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Comments within the text should not be construed as specific recommendations to buy or sell securities. Individuals should consult with their broker and personal financial advisors before engaging in any trading activities. Do your own due diligence regarding personal investment decisions.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in