$10,000 Gold Is Not Out of the Question, Says Top Expert - TheStreet

By Daniela Cambone / September 07, 2019 / www.thestreet.com / Article Link

(Kitco News) - 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.

"Recognize that the gold traders are no longer in London, [who were] basically the price makers, the Chinese are [now] the price makers, they used to be the price takers, and that is a paradigm shift," Holmes said.

Holmes said that the world doesn't have to see war in order for gold prices to climb to those levels.

"It's just a slow debasement of currencies, art is going to do exceptionally well, and real estate," he said, adding that according to a Morgan Stanley report, the best performing asset in the last 20 years has been real estate, followed by gold.

Watch more on Kitco News

NEW Jim Cramer's Bull Market Fantasy: Week 1 Matchups and Lineup Advice

Premium Pick: Jim Cramer: Lululemon Is a Master at Experiential Retail

 

TheStreet Explains: What Are Tariffs and Why Do They Move the Market?

Catch Up: Today's Top News Videos Below

This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.

Recent News

Some mining stocks exposed to Burkina Faso take major hit

September 02, 2025 / www.canadianminingreport.com

Gold stocks again hit new highs

September 02, 2025 / www.canadianminingreport.com

Gold stocks reach new highs on metal price gain

August 25, 2025 / www.canadianminingreport.com

Rise in gold stocks propels TSXV Mining

August 25, 2025 / www.canadianminingreport.com

Market sees gold sector nearing full value overall after target upgrades

August 18, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok