Gold Poised for Continued Surge, Could Reach $10,000โ by 2030, Expert Predicts
Gold prices are expected to continue their dramatic ascent, potentiallyโ reaching $5,000 an ounce within the next year and even doublingโค to $10,000 before the โend of the decade, accordingโ to Randy Smallwood, CEO of Wheaton Precious Metals Corp. โคThis bullish forecast comes asโข the precious metal recently surpassed $4,000 per ounce, hitting โฃa new all-time high.
Speaking to Bloomberg, Smallwood โขexpressed strong confidence in gold’s future performance. โ”I have no objection to seeing โgold exceed $5,000, and the current momentum suggests it couldโค easily reach $10,000 an ounce before 2030,” he stated.He โคattributes this potential toโ the dollar being the benchmark for gold’s โขvaluation.
The surge in gold’s value – up roughly 50% as the start of 2025, marking its strongest performance since โค1979 – is fueled by a confluenceโข of factors. Geopolitical instability and concerns about supply shortages areโ driving investors towards gold as a safe haven asset. Wheaton Precious Metals,โฃ which finances miningโ projects inโค exchange for future mineral production, is directly benefiting from this increased demand.
While acknowledging theโฃ recent rapid gains – a 16% โฃincrease in just five weeks – โKen Mahoney,โข CEO of โขMahoney Asset Management,โ cautioned that the paceโ of โgrowth might moderate.However,he added a note of caution,stating,”Trends often persist longer than expected,and a gradual โincrease inโ gold prices remains entirely possible.”
Traditionally, investors turn toโข gold โduring times of economic uncertainty and inflation, valuing its ability to maintain โvalue. Current concerns surrounding potential tariffs, fluctuating interest rates, a shifting dollar value, and even the possibility of a government shutdown are all contributing โขto theโค heightenedโ demand.
Further bolstering โขthe optimistic outlook, โGoldman Sachs recently revised its December 2026 goldโค priceโฃ forecast upwardsโฃ to $4,900, anticipating increased purchasing from central banks – projected to acquire up to 80 metric tons of โคgold this year.โ Additionally,anticipated โcuts to US interest rates are expected to further enhance gold’s appeal as a non-yielding reserve asset,solidifying its position as a valuable investment โขin a changingโ economic landscape.