Extremely dovish monetary policies around the world and economic conditions could propel gold prices much higher, to even $10,000 over the long-term.
“I think it goes up to $10,000. I don’t think it’s going to happen in the next 12 months, but I think the supply of gold, peak gold is there. The supply of gold is not growing. GDP per capita is still strong in China and India and Southeast Asia. 60% is bought for love, and that’s a steady demand for gold,” Holmes said. He added that we are now in a paradigm shift where the Chinese have shifted from being market takers of gold to being market makers.
