Gold Prices Could Potentially Touch $9,000/Oz in a Decade

SEATTLE (Scrap Monster): The annual report published by Incrementum AG made bold predictions for gold prices in the next ten years.

According to fund managers Ronald-Peter Stoeferle and Mark Valek, a price of $5,000 per Oz in a decade’s time seems to be a conservative target for the yellow metal. The prices could even push to $9,000 per Oz by 2030.

The possible chances of gold prices hitting $5,000 per Oz or $9,000 per Oz are dependent on two major factors-global debt situation and inflation. The proprietary valuation model pegs gold prices at $4,800 per Oz by the end of this decade. The development of money supply growth in inflationary manner should take the prices to as high as $8,900 per Oz, the report said. In the short-term, yellow metal prices could surprise to the downside, consolidating for several weeks.

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The investor community is likely to face multiple challenges over the forthcoming years as it expects economic and monetary turbulences, due to long-lasting impacts caused by Covid-19 pandemic. As per experts, the world is currently passing through the most prominent economic contraction in over 90 years. Also global debt levels are staring at record high levels. In the midst of all these uncertainties, gold will emerge as a profitable investment during these troubled times, offering stability and security in investment portfolios.