More and more analysts are projecting that gold will be going at least as high as $3,000/ozt over the next few years. One even claims that gold will spike up to $87,500/ozt.! Below is an updated list of their names and stated rationale for each forecast.

By Lorimer Wilson, editor of munKNEE.com – Your Key To Making Money!

1. Jim Sinclair*: $50,000 in 2025 and to $87,500 by 2032
   • Sinclair had said that in video years ago that, with so many U.S. Dollars being printed to uphold the economy as a result of COVID-19, that Gold would rise to $50,000/ozt. (i.e. go “straight up” in Sinclair’s words) at the end of the 45-year gold cycle which is coming up in 2025 and rise up to $87,500/ozt. by the end of 2032. Source 
   • * Sinclair passed away in September of 2023.
2. Stephen Leeb: +$35,000 by 2032
   • “I wouldn’t be surprised if everything related to commodities performs even better this time around – albeit with sharper volatility – than in the earlier decade…[and that goes for] my nominal 10-year target of $35,000 [as well].” Source
3. Egon von Greyerz: $35,000 (No date specified)
   • I would not be surprised to see a 0.1 [Dow/Gold] ratio. That could lead to 3,500 Dow and $35,000 gold.” Source
4. Erik Lytikainen: $25,000 by 2030
   • “We will not be surprised to see $25,000 per troy ounce of gold by the year 2030.  It will likely be a volatile ride higher, with large drawdowns along the way.” Source
5. Martin Armstrong: $25,000 (No date specified)
   • “Gold should theoretically sell for $25,000/ozt., given the monetary prolificacy since 1980”…”  Source
6. Pierre Lassonde: $25,000 by 2049
   • Lassonde says gold could hit $25,000 in 26 years. Source
7. Avi Gilburt: $25,000 over the next decade plus
   • “I think the math shows gold futures can, and will, surpass $25,000  over the next decade plus.” Source
8.  Hugo Salinas Price: $22,000 – $50,000 (No date specified)
   • Price says the current melt-down of the world’s debt bubble is likely to continue and he believes that the salvaging of all debt and derivatives might require a gold price as high as between $22,000 and $50,000 per troy ounce.  Source
9. Frank Barbera: $20,000 to $50,000 sometime between 2032 and 2037
   • Barbera sees precious metals…starting a new secular bull market that could last 10 to 15 years. He sees potential for gold to go as high as $20,000/ozt. or even $50,000 ozt. in that period. Source
10. Goldrunner: $20,000 between mid-2028 and end of 2029
    • 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 troy ounce – or even a bit higher – some time between mid-2028 and the end of 2029.” Source
11. Peter Schiff: $20,000 (No date specified)
    • The value of gold could rise tenfold and hit $20,000 per troy ounce in the event of a collapse of confidence in the US dollar and runaway inflation.  Source
12. Briton Hill: $20,000 sometime between 2026 and 2031
    • “You can’t produce trillions of dollars with 0% interest rates and not introduce inflation. Long-term, we could be entering a cycle similar to the 1970s, where the precious metal sector rose by thousands of percentage points, and if we see something like that happen again in the next 5-10 years, we could easily see…$20,000 gold.” Source
13. Addison Wiggin: $12,000+ (No date specified)
    • “The gold coverage ratio has risen above 100% twice during 20th century,” most recently at gold’s 1980 peak. “Were this to happen today, the value of an ounce of gold would exceed $12,000.”  Source
14. Nick Barisheff:: $10,000 (No date specified)
    • Barisheff, in his book, $10,000 Gold, argues that gold’s value will continue to climb, and does so by showing rather than telling; encouraging investors to apply core principles and wide-spectrum analysis that make the case for gold’s rise to $10,000 an ounce or higher. Source
    • Barisheff passed away in September, 2023.
15. Leigh Goehring: $10,000-$15,000 by 2027-28
    • “Our target is between $10,000-$15,000 per troy ounce.,,[by] 2027-28.” Source
16.  James Rickards: $10,000 (No date specified)
    • “$10,000 per troy 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
17. Daniel Oliver: $10,000 (No date specified)
    • “The money to push gold over $10,000 per troy 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
18. Max Keiser: $10,000 (No date specified)
    • 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 troy ounce.” Source
19. Adam O’Dell: $10,000 (No date specified)
    • “The price is guaranteed to hit near $10,000/ozt..”  Source
20. David Smith: $10,000 (No date specified)
    • “Gold could reach US$10,000 per troy ounce by the end of the bull market.” Source
21. Bob Kirtley: $10,000 (No date specified)
    • “My target has been $10,000/ozt since June 2006, so at that point, an exit strategy will be executed, hopefully with some handsome profits.” Source
22. Arthur Hayes: +$10,000 (No date specified)
    • He argues that central banks will choose to load up on gold instead of dollars causing gold to rise beyond $10,000/ozt..  Source
23. Chris Waltzek: $10,000 (No date specified)
    • Waltzek maintains that $10,000 gold may merely be the opening salvo of an explosive new bull market for PMs. Source
24.  Willem Middelkoop: $10,000 (No date specified)
    • “Once gold starts to run, and especially in a reevaluation scenario, it will go up 5x, 8x, 10x, so expect gold to move to $10,000.” Source
25. James Puplava: $10,000 by 2030
    • Gold trading above $10,000 and silver near $300 is where President of Financial Sense Wealth Management, James Puplava sees prices later this decade, according to his Big Picture Update titled: Unsustainable. Source
26. Gov Capital: $8,531 by 2025
    • “5 year gold forecast: $8530.74/ozt.” Source
27. Florian Grummes: $8,000 to $9,000 sometime between 2025 and 2030
    • “We could end up having gold at $8,000 to $9,000 per troy ounce in five to 10 years.” Source
28. Robin Griffiths: $8,000 (No date specified)
    • Griffiths says $8,000 gold is not unreasonable because China and India are becoming more dominant and to them, gold is real money.  Source
29. Graham Summers: $8,000 (No date specified)
    • “Gold first rallied about 630% from 2003-2011. It then corrected about 43% before bottoming in 2015 at $1,060/ozt.. If it follows a similar second leg up this time around, it’s going to ~$8,000 per troy ounce before it peaks.”  Source
30.  Jan Nieuwenhuijs: $8,000 to $10,000 (No date specified)
    • “A long-term gold valuation model, which assumes gold will account for the majority of international reserves, suggests the gold price to exceed $8,000 in the coming decade…and if central banks stockpile 51% of their reserves in gold, the price of gold would reach $10,000 per troy ounce.” Source
31. Hubert Moolman: $7,758 (No date specified)
    • “In my opinion, it is virtually guaranteed that gold will again catch up with the Dow’s performance since 1913, and significantly surpass it just like in the 70s. This means we will likely see gold reach $7,758/ozt. (in the near future) and eventually go on to reach multiples of that high.” Source
32. AG Thorson: $7,500 – $10,000 by end of 2030
    • “By the end of this decade, we expect gold to reach $7,500 – $10,000 per troy ounce.” Source
33. Chris Vermeulen: $7,400 by 2027
    • Gold is set to hit $2,700 an ounce in 2023, and go up to $7,400 in four years  Source
34. Charlie Morris: $7,166 by the end of 2029
    • :A bullish target of $7,166/ozt. is both logical and plausible.”  Source
35. Mike McGlone: $7,000 by 2025
    • “From 2001-2011, gold advanced about 7.5 times, which if repeated would bring it to around $7,000/ozt. in 2025.” Source
36. Dominic Frisby: $5,700 (no date specified)
    • “At $1,920/oz gold is a lot cheaper today than it was when it was $1,920/oz back in 2011. It’s a third of the price. To get back to those equivalent levels, assuming no change in the price of the S&P500, gold would have to triple. I like the sound of $5,700/oz gold!” Source
37. Equity Management Academy: $5,500 in 2024
    • “Gold will then hit the delusion phase and in a new paradigm gold will hit $5,500 in 2024. After that high, gold will enter another bull trap and fear will drive gold down below $4,000. Gold will then return to its mean at about $1,500 to $2,000.” Source
38. Chris Wood: $5,386 (No date specified)
    • “The gold price of US$850/ozt. at the peak of the last secular bull market in gold in January 1980 was then equivalent to 9.9% of US disposable income per capita. The gold price is now just 3.6% of US disposable income per capita. Therefore, to reach 9.9% of US disposable income per capita means gold should rise to US$5,386/ozt..” Source
39. Scott Minerd: $5,000 to $10,000 (No date specified)
    • “As chaotic price swings of the crypto world push investors back into gold and silver, they will start to build momentum, with the ultimate gold price target set at $5,000-$10,000 per troy ounce.” Source
40. Moe Zulfiqar: $5,000 by 2030
    • ” It wouldn’t be shocking to see gold at $5,000 per troy ounce, or more, by 2030. ” Source
41. Rob McEwen: $5,000 (No date specified)
    • The founder of Goldcorp Inc., McEwen predicts that gold will soar to $5,000 a troy ounce, bolstered by a weaker dollar and waning demand for trendy assets like pot stocks. Source
42. J.C. Parets: $5,000 (no date specified)
    • Parets sees the price of gold bullion heading towards $5,000 a troy ounce. Source
43. Michael Lee: $5,000 (no date specified)
    • “We’re on the cusp of a breakout where gold can go up to $5,000. I think the dollar is getting near its peak. Once you see that dollar reversal, once gold gets above $2,000, you could really see it start to take off…considering the amount of money we print, I have no idea why gold is not above $4,000 right now.” Source 
44. Victor Dergunov: $5,000 by 2024
    • “Gold at $5,000/ozt. in 3-5 years seems plausible, and it is likely to continue to go higher after that.” Source
45. Dan Popescu: $5,000 by 2025
    • “Gold price could break above $5,000/ozt. in the next 5 years.” Source
46. David Morgan: $5,000 before the end of the decade
    • “Gold could hit $5,000/ozt., especially as the greenback loses purchasing power.” Source
47. Ralph Wakerly: $5,000 sometime between 2025 and 2028
    • Believes gold could easily reach $5,000/ozt., maybe more, within 3-6 years. Source
48. 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 troy 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
49. Ronald-Peter Stoeferle and Mark Valek: $4,800 to $8,900 by 2030
    • “The proprietary valuation model shows a gold price of $4,800/ozt. 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 $8,900/ozt. is conceivable by 2030.” Source
50. Juerg Kiener: $4,000 in 2023
    • Gold prices could surge to $4,000 per ounce in 2023 as interest rate hikes and recession fears keep markets volatile. Source
51. 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
52. Rick Rule: $4,000 – $6,000 by 2027
    • Rule says that in past bull cycles, gold has climbed at least seven-fold, and that it is very likely that gold will double or triple by five years’ time. Source
53. Stan Bharti: $4,000-$5,000 in this cycle
    • Believes gold is going to between $4,000-$5,000/ozt. in this cycle. Source
54. Frank Holmes: $4,000 by 2023
    • “The yellow metal is set to rally in the same fashion as in the aftermath of the last recession and, if cycles are exactly the same, gold could go to $4,000/ozt.”. Source
55. Michael Cuggino: $4,000 (No date specified)
    • Cuggino says it would “not be an unreasonable move” for gold to breach $4,000/ozt..  Source
56. Jordan Roy-Byrne: $4,000 by end of 2024
    • “Gold will hit my $4,000 target by the end of 2024.” Source
57. GoldPriceForecasts.com: $4,000 in 2031. Source
58. Robert Kiyosaki: $3,800 in 2023; $5,000 by 2025
    • “Giant crash coming. Depression possible. Fed forced to print billions in fake money. By 2025 gold at $5,000, silver at $500, and bitcoin at $500,000. Why? Because faith in U.S. dollar, fake money, will be destroyed. Gold & silver [are] God’s money. Bitcoin [is] people’s $”. Source
59. Michele Schneider: $3,000-$3,500 by 2024; $5,000 by 2025
    • “Every time we look at the price of gold, we take one step closer to realizing our prediction of the $3000-$3500 price target by 2024 and not ruling out a trip to $5000 by 2025.” Source
60. Don Durrett: $3,000 to $10,000 (No date specified)
    • “My price target for gold is somewhere between $3,000 and $10,000 per troy ounce.” Source
61. Investors Alley: $3,000 -$10,000 by 2028
    • “Given the current environment of rising inflation, negative real yields, a weaker dollar, and ongoing monetary dilution, gold should rise to $3,000 -$10,000/ozt. in 5 years time.” Source
62. Jeff Clark: $3,000 to $10,000 by 2025
    • • “Potential 5-year high: $3,000 to $10,000 per troy ounce.” Source
63. Geraldo Del Real: $3,000 to $5,000 (No date specified)
    • “I actually think $3,000 to $5,000 per troy ounce is very reasonable.” Source
64. Thomas Kaplan: $3,000 to $5,000 by 2030
    • “Gold prices could rally as high as $3,000 to $5,000 per troy ounce within a decade.” Source
65. David Rosenberg: $3,000 to $5,000 (No date specified)
    • “A $3,000 to $5,000 per troy ounce target is justified based on the facts we have today.”  Source
66. Diego Parrilla: $3,000 to $5,000 sometime between 2023 and 2025
    • “Unprecedented monetary stimulus is fueling asset bubbles and corporate debt addiction — rendering interest-rate hikes impossible without an economic crash. In the ensuing market mania gold could rise to $3,000 to $5,000 per troy ounce in the next three to five years.” Source
67. Kirk Spano: $3,000 to $5,000 by 2025
    • “$3,000/ozt. mid-decade [with] upside potential to $5,000 per troy ounce.” Source
68. Shaun Djie: $3,000 to $4,000 by the end of 2029
    • “In the next 10 years, gold will continue to be volatile. Gold could trade anywhere between the levels of $3,000 or $4,000 per troy ounce in the next ten years given how much cash will be potentially put into the economy.” Source
69. Adam Hamilton: $3,450 (No date specified)
    • “Gold prices ought to at least double before this raging inflation runs its course, which would carry it up around $3,450 sometime in the coming years!” Source
70. Jan van Eck: $3,400 (No date specified)
    • Jan van Eck, Van Eck Associates CEO, has a target for gold of $3,400 an ounce, based on the idea that deflationary market environments with similar levels of government stimulus and systemic risk have been bullish for gold in the past. Source
71. Joe Foster: $3,200 to $3,400 (No date specified)
    • “We…believe this to be a deflationary cycle and both recent deflationary gold bull markets suggest that a price over $3,000 per troy ounce is reasonable. In fact, if one believes, as we do, that the current central bank stimulus to fight the impacts of the COVID-19 virus, along with elevated levels of systemic risks, are similar to those during the global financial crisis, then $3,400/ozt. may be the target for this bull market.” Source
72. Charles Gibson: $3,281 (No date specified)
    • “Since 1967, the price of gold has shown an extremely strong (0.909) correlation with the total U.S. monetary base. The more dollars that either are, or could be, in circulation, the higher the expected gold price. With the total US monetary base now closing in on US$5.5tn the gold price could very reasonably be expected to rise to as high as US$3,281/ozt.” Source
73. Eric Fry: $3,000 to $4,000 (No date specified)
    • ‘When this ballgame ends, gold with be trading for at least $3,000 a troy ounce, and an extra-inning affair would not surprise me — lifting the gold price past $4,000/ozt..” Source
74. WingCapital Investments: $3,000 (No date specified)
    • “Using the post-2008 bull market as a guideline during which gold more than doubled within the ensuing 3 years, $3,000/ozt. would be a reasonable long-term target in our opinion.” Source
75. Brian Lundin: $3,000 by 2024
    • “I think we’ll set a new record in real terms, exceeding $3,000/ozt., by 2024, or so.” Source
76. Byron King: $3,000 (No date specified)
    • “I think Bank of America is on track. I don’t think there’s any question gold will see $3,000/ozt.. As with all things in life, it’s just a question of how long it will take.” Source
77.  Ben Morris and Drew McConnell: $3,000 (No date specified)
    • “$3,000 per troy ounce isn’t a long shot.” Source
78.  Stewart Thomson: $3,000 (No date specified)
    • “Queen Gold is assured of launching above the key $2,000/ozt. price zone, ready to begin a rocket blast towards my medium-term $3,000/ozt. target!”  Source
79. John Ing: $3,000+ (No date specified)
    • “We expect gold to trade higher than $3,000 a troy ounce due to a lower greenback and solvency concerns.”  Source
80. SomaBull: $3,000 (No date specified)
    • “The money supply is quickly heading to levels that would support a $3,000/ozt. gold price well in excess of fair value by the time this bull market is exhausted.” Source
81. Adam Trexler: $3,000 (No date specified)
    • “With inflation coming, we’ll see gold over $2,500/ozt. in real dollar terms but we’ll see a devaluing of the dollar…[and] if you see 10% inflation, the dollar number value of gold could be much higher. I don’t think $3,000/ozt. gold is impossible and, if we see a hyperinflation scenario, it could be significantly higher.”  Source
82. Lawrence Lepard: $3,000 by mid-2024
    • Lepard“is betting that gold hits $3,000 within the next two years. Source
83. Tony Dobra: $3,000 (No date specified)
    • Dobra believes the situation in Ukraine should see gold topping $2,100/ozt. later in 2023 and then that, anything is possible with $3,000/ozt. more likely than not. Source
84. Trevor Gerszt: $3,000 by 2025
    • Gerszt believes the prospect for $3,000 gold by mid-decade is not outlandish. Source
85. Clem Chambers: $3,000 (No date specified)
    • “As many gold bulls remain confused about why gold isn’t already heading for $3,000, the question really is, what can possibly stop it? The Federal Reserve’s tightening must be in the price, so all that is left is the open questions of European conflict and the length of time that inflation will run hot.”  Source
86.  David Garofalo: $3,000 (No date specified)
    • “Gold’s all-time peak in real terms was actually achieved in 1981 when the nominal gold price was $850 an ounce, that would be $3,000 an ounce in 2021 dollars. That’s what I think I see in this cycle.”  Source
87. Bloomberg Intelligence: $3,000 (No date specified)
    • “There is a good chance for gold to even reach $3,000 an ounce during this bull run, according to our charts.” Source
88. Ole Hansen of Saxo Bank: $3,000 in 2023
    • Not only is the Fed expecting to end its tightening cycle, but the threat of a global recession will force central banks to pump liquidity back into global financial markets which should drive gold prices to at least $3,000 in 2023. Source
89. Zach Scheidt: $3,000 in 2023
    • ‘Lower rates could trigger a perfect environment for gold to trade up to $3,000 (or even higher).” Source
90. Mike Fuljenz: $2,500 to $3,000+ in 2023
    • “My conservative estimate would put it between $2,500 an ounce and just over $3,000 an ounce but it wouldn’t hurt my feelings to see it even higher, so now is the time to buy gold and silver. Source 
91. Nouriel Roubini: $3,000 by 2028 
    • “Gold to rise by 10 percent per year over five years, resulting in a gold price of over $3,000 per ounce by 2028, an overall return of 60 percent.” Source
92. Chris Kimble: $3,000 (No date specified)
    • “If/When Gold breaks above $2,000, it will clear the way for a rally towards $3,000. Wow! Stay tuned!” 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 within the last year) please mentioned them below and I will include them in a future article.

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