Gold Poised for Continued Surge, Could Reach $10,000 by 2030, Expert Predicts
Gold prices are expected to continue their dramatic ascent, potentially reaching $5,000 an ounce within the next year and even doubling to $10,000 before the end of the decade, according to Randy Smallwood, CEO of Wheaton Precious Metals Corp. This bullish forecast comes as the precious metal recently surpassed $4,000 per ounce, hitting a new all-time high.
Speaking to Bloomberg, Smallwood expressed strong confidence in gold’s future performance. ”I have no objection to seeing gold exceed $5,000, and the current momentum suggests it could easily reach $10,000 an ounce before 2030,” he stated.He attributes this potential to the dollar being the benchmark for gold’s valuation.
The surge in gold’s value – up roughly 50% as the start of 2025, marking its strongest performance since 1979 – is fueled by a confluence of factors. Geopolitical instability and concerns about supply shortages are driving investors towards gold as a safe haven asset. Wheaton Precious Metals, which finances mining projects in exchange for future mineral production, is directly benefiting from this increased demand.
While acknowledging the recent rapid gains – a 16% increase in just five weeks – Ken Mahoney, CEO of Mahoney Asset Management, cautioned that the pace of growth might moderate.However,he added a note of caution,stating,”Trends often persist longer than expected,and a gradual increase in gold prices remains entirely possible.”
Traditionally, investors turn to gold during times of economic uncertainty and inflation, valuing its ability to maintain value. Current concerns surrounding potential tariffs, fluctuating interest rates, a shifting dollar value, and even the possibility of a government shutdown are all contributing to the heightened demand.
Further bolstering the optimistic outlook, Goldman Sachs recently revised its December 2026 gold price forecast upwards to $4,900, anticipating increased purchasing from central banks – projected to acquire up to 80 metric tons of gold this year. Additionally,anticipated cuts 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 in a changing economic landscape.