How much will gold cost in 2030? Will the price of gold decline or will it continue to rise?
Well, there are a number of economic variables and other global events that might help us make an educated guess as to what the gold rates will look like in ten years. It has never been simple to precisely anticipate future gold prices.
Given that gold’s worth has been rising consistently over the course of its history, its price per ounce is likely to double by 2030. According to certain experts and shrewd investors, gold will reach $5000 per ounce in the next ten years.
“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 levels far sooner. It’s a
troubling time for the dollar that is only going to get worse – I don’t
think there has been any better time to own physical gold, if for no other
reason than for financial insurance.”
Brian Whitfield, President/CEO, Pacific Coin Exchange (PCE)
Let’s now discuss the reasons why we think gold prices will increase significantly over the next ten years.
Table of Contents
Depreciation of the Dollar
The federal government continually prints money to pay off debt. As a result, the dollar has been losing strength every day while gold, the dollar’s perennial foe, has been making considerable gains.
Therefore, it is reasonable to assume that the price of gold will reach at least $3000 by 2030 if the dollar continues to depreciate at such a worrying rate.
“If you are not looking at gold, you could be kicking yourself later. It wouldn’t be shocking to see gold at $5,000 an ounce or more by 2030. There are too many good things happening for gold and in the next decade they could really give the yellow metal a boost; reckless government spending across the globe, central banks buying gold, gold grades in the ground diminishing, exploration spending dropping and the list goes on.”
Moe Zulfiqar, Senior Analyst, Lombardi Letter
Decline In Gold Mining
The expense of mining and exploring for gold is increasing at the same time that the amount of gold deposits is decreasing, rendering the entire operation unprofitable. Because mercury amalgamation has been the sole method of processing the precious metal that has been less expensive, the elimination of mercury from gold extraction is also making it challenging for small-scale gold miners to extract gold from rocks. The quantity of gold will inevitably decrease as a result, pushing up the price of gold to $5,000 in ten years.
High Demand for Gold
Due to technological breakthroughs, gold is highly prized for use in the production of electronic devices. There is no doubt that the increasing demand will raise gold prices.
Global Economic and Political Instability
The demand for gold will rise as a result of economic sanctions brought on by geopolitical tensions between Western and Eastern nations, particularly between China and the United States, as these governments’ central banks (and citizens) purchase gold to protect themselves against economic downturns brought on by such tensions. Experts predict that this will lead to a sharp increase in the price of gold in the near future.
It is evident from the aforementioned economic variables and professional perspectives that now is the ideal moment to invest in gold. If the past is any indication, it’s the only investment asset that shows promise.