Why gold is poised to hit $6,000 an ounce within five years

We may receive commissions from some links to products on this page. If you do choose to invest in gold, the commission adds, it’s important to educate yourself on safe trading practices and be cautious of potential scams and counterfeits on the market. China ranks atop the list of nations seeking to bolster their gold reserves as a means of reducing its dependence on the U.S. dollar.

“It’s just really hard to justify a strong bearish, a bear sentiment on this.” The price of bullion has climbed 25% in 2025, handily beating the S&P 500, which is down by about 1% year-to-date. Blame the bad energy in the economy in 2025, with “soft data” like consumer sentiment and inflation expectations souring even as the economy continues to hold up. “My sense is that a debt crisis is inevitable,” he said, adding that he buys gold regularly, with the metal comprising 25% of his overall portfolio.

• The job market has tightened for fresh graduates from private education institutions in Singapore, with less than half securing full-time roles in 2024.
• The recent increases appear to owe a great deal to the way markets have responded to the confusion triggered by the Trump administration.
• With more than ten years of experience in media, she has covered a range of topics, focusing on economy and politics.
• Whether you’re interested in the stability of physical bullion, the convenience of gold ETFs or the growth potential of mining stocks, there are a number of ways to strategically position your portfolio while prices are lower.
• Now, as an Anchor at Kitco News, Jeremy will continue to inform a global audience of the latest developments and critical themes in finance and commodities.

Barely 100 days into the Trump administration, the world is in economic turmoil. The price of bullion has increased from US$2,300 an ounce to about US$3,300 over the past year, and Toronto’s Rosenberg Research predicts it could hit US$6,000 within five years. The firm’s lively senior market strategist, CFA Bhawana Chhabra, explains why. Unsurprisingly, recent data has underpinned the buck and US bond yields, as well as weighed on the price of gold.

• Given high prices, miners are focused on maximizing production rather than cost control,” adds Mills.
• The latter coincides with the ascending trend-line breakpoint, above which a fresh bout of a short-covering could lift the Gold price to over a two-week high, around the $3,365-3,366 zone touched last Friday.
• Still, the gold price continued to soar in recent months as investors grew increasingly confident that the Fed would cut interest rates.
• In early March, the price punched through to $2,160 per ounce — then a record high.

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But the price of gold, traditionally seen as a safe haven, is hitting an all-time high. While several scenarios could cause gold prices to decline, experts caution against waiting for the perfect entry point. “Investing in gold should always be a long-term play as timing the market is difficult and returns are almost always better the longer you allow an asset to appreciate,” Aversano advises. When investors see their gold holdings rise dramatically in value, they may sell to lock in profits and redeploy funds into other assets.

Central bank buying is strong and ETF flows are now positive,” says Mills. Still, the gold price continued to soar in recent months as investors grew increasingly confident that the Fed would cut interest rates. Heightened geopolitical uncertainty over that period also made gold an attractive place for safe-haven investment, some experts said. For those who want gold exposure without the hassle and expense of storing physical bars or coins, gold exchange-traded funds (ETFs) are a popular and liquid alternative. These funds track the price of gold and allow investors to buy and sell shares just like stocks. And, when the spot price drops, like it has this week, the share prices of these ETFs tend to follow suit, which means investors may be able to get in at a lower cost right now.

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“There’s definitely a feel that there may be a little bit excessive influx,” Michael Boutros, a senior technical strategist at StoneX, told BI. “There’s a lot of fearmongering going on in the markets right now.” While the risk of a US recession is elevated, Wall Street forecasters don’t expect the economy to enter a serious downturn. Goldman Sachs recently lowered its recession outlook from 45% to 35%, while Barclays recently removed its forecast for a mild recession. On the subreddit r/preppers, where membership has soared 354% since 2020, according to historical subreddit data, questions about stocks up on gold regularly flow in from users.

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Since the start of 2025, gold had been on a swift upward trajectory, driven higher by factors like inflation concerns and geopolitical tensions. That led to the price of gold climbing to historic highs earlier recently, soaring above $3,400 per ounce. Right now, gold is trading at $3,175.87 per ounce, a sharp drop from the $3,324-per-ounce price it was at just one week ago and more than $225 lower than its early May peak. Some experts also attributed the rise in gold prices to geopolitical uncertainty and unease surrounding the coming U.S. presidential election. A perception of global instability often induces investors to purchase gold as means of safeguarding their funds in a millennia-old asset viewed as immune to major swings in global economic performance, they added.

Simon French at Panmure Liberum believes the peak may now be very close, and people piling into the market now in the hope of making big money are likely to be disappointed. Others have warned that those recently lured into buying gold by hype and headlines could lose out if the market goes into reverse. “The US stock market is 200 times bigger than the gold market, so even a small move out of the big stock market or the big bond market would mean a big percent increase in the much smaller gold market,” explains Daan Struyven. There has recently been a significant rise in demand for gold from so-called Exchange Traded Funds, investment vehicles that hold an asset such as gold themselves, while investors can buy and sell shares in the fund.

Jeremy has also worked as a market strategist and investor relations consultant with various publicly traded companies in the mining, energy, CPG, and tech industries. “Short-term speculating can backfire, even though there will be a temptation to hang on to the coat-tails of the record run upwards,” is how Susannah Streeter, head of money and markets at Hargreaves Lansdown, has put it. The peak in 2011, meanwhile, was followed by a sharp dip, then a period of volatility. After plateauing for a while, it continued to fall, reaching a low point in mid-2013 that was 35% down from its highest. Back in 1980, for example, the dramatic spike in the gold price was followed by an equally remarkable correction, dropping from $850 (£640) in late January to just $485 (£365) in early April. By mid-June the following year, it stood at just $297 (£224) – a decline of 65% from its peak.

Even so, Thomas says gold is likely to break more records this year. Goldman Sachs Research predicts gold will rise to $3,700 ameritrade forex broker a troy ounce by the end of 2025 (from $3,220 on May 15) as central banks buy many tonnes of the precious metal every month. “The recent surge in gold prices is primarily driven by softer U.S. economic indicators,” says Croak. Investor interest in gold is rising, which isn’t surprising given persistent inflation and elevated interest rates continue to drag on the economy. Historically, gold tends to perform well during periods of economic uncertainty, as investors look for a hedge against inflation and a stabilizing asset to add to their portfolios. The monthslong stretch of strong performance owes in large part to an expectation of lower interest rates at the Federal Reserve, which typically coincide with an increase in gold prices, some analysts told ABC News.

Another kind of investment is booming, though – the price of gold. It hit an all-time high today, and analysts expect to keep on soaring. NPR financial correspondent Maria Aspan is here to help us understand why. Jon Mills, equity analyst for Morningstar, recently wrote on gold where he is supporting higher prices for gold. “Tailwinds include a flight to safety on falling share markets, tariff worries, geopolitical instability, a weaker US dollar, and rising inflation expectations.

gold price scenarios that could occur this June, according to experts

Sharon Wu, a senior writer with over a decade of experience, specializes in consumer-focused content covering home and finance topics such as insurance, investments, credit, debt, mortgages and home security. “If the dollar strengthens aggressively against other currencies, gold usually takes a hit because it becomes more expensive for foreign buyers,” says Jack Hanney, CEO and senior partner at Patriot Gold Group. Still, experts caution against putting all your eggs in one basket. Critics say gold isn’t always the inflation hedge many say it is — and that there are more efficient ways to protect against potential loss of capital, such as derivative-based investments. Confidence began to slide at the start of the year for both U.S. households and businesses due to fears of inflation and tariffs. Those worries seem to only be worsening, according to a preliminary survey released Friday by the University of Michigan.

Interest in buying gold can rise sharply in times of uncertainty, as anxious investors seek safe havens for their money. President Donald Trump’s tariff policies have kicked off an international trade war that has roiled financial markets and threatened to reignite inflation for families and businesses alike. Unlike physical gold or ETFs, gold mining stocks don’t just reflect the price of gold. They’re also influenced by factors like the mining company’s performance, production costs and geopolitical risks. This makes them more volatile but also potentially more profitable when conditions improve. If you’re looking to take on a bit more risk in exchange for potentially higher rewards, gold mining stocks might be worth a closer look right now.

Known as a safe-haven asset, Gold is expected to appreciate in periods of market volatility and economic uncertainty. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government. On the bullish side, continued global policy easing, a recovering Chinese economy or escalating geopolitical conflicts could boost safe-haven flows into Gold, supporting its resilience and pushing prices higher. It’s more volatile than gold, and demand could dip if economic growth slows. But for now, many see silver tracking gold’s upward path—especially as a hedge against uncertainty in a hedge fund trading strategies wobbly global economy.

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Visit our website terms of use and permissions pages at for further information. However, it’s worth noting that while “headlines usually cause a dip, the structural problems with debt and currencies don’t go away,” Hanney says. “So, any cooling off would probably be temporary unless it’s paired with real economic healing.”

They are popular with large institutional investors – and their actions have helped to push up the price. “There’s anxiety about which way the market is going to go next, and global asset allocation when you get those emotions, ultimately it creates quite big trades.” Also on the table, rather more elegantly presented in a suede-lined tray, is a selection of gold coins and bars. The largest bar is about the size and thickness of a mobile phone. It is, in effect, gold scrap, which will be melted down and recycled.