65 analysts are now forecasting that the price of gold will increase dramatically this decade with 14 maintaining that $10,000/ozt and beyond is more than likely. One of them even claims that gold will reach $50,000/ozt. in 2025 and then spike to $87,500/ozt.! Below is a revised list of their names and stated rationale for each of their forecasts.

Back in April I posted an article presenting forecasts by 22 analyst on the future price of gold. In July that number was updated to 46, to 55 in mid-August and to 61 in October (see here). This article updates that number to 65 analysts (4 additions so noted) with similar points of view. (All figures are in US$/ozt. i.e. per troy ounce.)

$50,000+ Gold

1. Jim Sinclair: $50,000 in 2025 and to $87,500 by 2032

• In a recent YouTube video Sinclair said that, with so many U.S. Dollars being printed to uphold the economy as a result of COVID-19, that Gold will 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

$25,000 Gold

1. 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

$20,000 Gold

1. 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

2. Pierre Lassonde: $20,000 in 2 - 5 years

• "Gold prices should skyrocket to much higher levels, even $20,000/ozt. in two to five years’ time, as gold reaches a price level close to the level of the Dow Jones Industrial Index." Source

3. Egon Von Greyerz: $20,000

• "I believe a gold price of $20,000/ozt. is very probable, even without high inflation." Source

4. Leigh Goehring: $10,000-$15,000 by 2027-28

• “Our target is between $10,000-$15,000/ozt.. That will happen at the end part of this coming decade — 2027-28.” Source

$10,000 Gold

1. James Rickards: $10,000

• "$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

2. Daniel Oliver: $10,000

• "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

3. Max Keiser: $10,000

• 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

4. Adam O’Dell: $10,000

• "The price is guaranteed to hit near $10,000/ozt.." Source

5. AG Thorson: $7,000 - $10,000

•  "By the end of this decade, we expect gold to reach $7,500 – $10,000 per troy ounce." Source

6. Peter Schiff: $5,000 to $10,000

• Schiff projects a price of between $5,000 and $10,000 per troy ounce, and says the Dow Jones Industrial Average, which is now valued at about 12 times the price of gold, will trade at just 7.5 times instead. Eventually, he sees gold and the Dow trading at even money. Source

7. Don Durrett: $3,000 to $10,000

• "My price target for gold is somewhere between $3,000 and $10,000 per troy ounce." Source

8. David Smith: $10,000

• "Gold could reach US$10,000 per troy ounce by the end of the bull market." Source

9. Bob Kirtley: $10,000 

• "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:

$6,500 -$9,000 Gold

1. Florian Grummes: $8,000 to $9,000 in 5 to 10 years

• “We could end up having gold at $8,000 to $9,000/ozt. gold in five to 10 years.” Source

2. 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

3. Graham Summers: $8,000

• "Gold first rallied about 630% from 2003-2011. It then corrected about 43% before bottoming in 2015 at $1,060 per troy ounce. If it follows a similar second leg up this time around, it’s going to ~$8,000 per troy ounce before it peaks." Source

4. Hubert Moolman: $7,758

• "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

5. Gov Capital: $5,837 by 2023; $7,220 by 2024; $8,531 by 2025

• "5 year gold forecast: $8530.74/ozt." Source

6. 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

7. Jeff Clark: $3,000 to $8,000 in 5 years

• "Potential 5-year high: $3,000 to $8,000 per troy ounce." Source

8. Charlie Morris: $7,166

• "A bullish target of $7,166/ozt. is both logical and plausible." Source

9. Tom Fitzpatrick: $4,000 to $8,000

• "We see no reason why this bull market cannot be as strong as the prior two averaging a multiple of eight times over an average of 7 years. Translating that to the $1,046/ozt. low in 2015 would come up with a number north of $8,000/ozt. possibly in as little as the next 2-3 years. Even if that sounds aggressive, a move similar to what we saw in 2009-2011 would suggest close to $4,000/ozt.."

10. 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

11. Luke Burgess: $6,500 

"I predict that gold prices could easily reach as high as $6,500 a troy ounce." Source

+$3,000 - $5,000 Gold

1. Rob McEwen: $5,000

• The founder of Goldcorp Inc., McEwen predicts that gold will soar almost fourfold to $5,000 a troy ounce, bolstered by a weaker dollar and waning demand for trendy assets like pot stocks. Source

2. Victor Dergunov: $5,000 in 3-5 years

• "Gold at $5,000/ozt. in 3-5 years seems plausible, and it is likely to continue to go higher after that." Source

3. Dan Popescu: $5,000 in 5 years

•  "Gold price could break above $5,000/ozt. in the next 5 years." Source

4. David Morgan: $5,000 before the end of the decade

•  "Gold could hit $5,000 a troy ounce this decade, especially as the greenback loses purchasing power." Source

5. 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

6. 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

7. Chris Wood: $5,386

• "The gold price of $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

8. Ole Hansen: $4,000

• "$4,000/ozt. probably is a little bit far-fetched as the world looks right now, but if you look years into the future, then that is possible because the repercussions of what we're going through right now with the pandemic and the aftermath is going to be something that's going to be felt for at least this generation and potentially beyond."  Source

9. Geraldo Del Real: $3,000 to $5,000

• "I actually think US$3,000 to US$5,000 per troy ounce is very reasonable.” Source

10. 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

11. David Rosenberg: $3,000 to $5,000

• "A $3,000 to $5,000 per troy ounce target.is fundamentally justified based on the facts we have today." Source

12. Gary Christenson: $3,000 to $5,000 by 2022

• "A reasonable “status quo” valuation for gold in 2021 is around $3,000/ozt..  Prices will fall below and occasionally spike much higher than the valuation so a gold price of $5,000 per troy ounce in 2020 – 2022 is plausible." Source

13. Shaun Djie: $3,000 to $4,000 within 10 years

• “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

14. Frank Holmes: $4,000 in 3 years

• "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

15. Diego Parrilla: $3,000 to $5,000 in the next 3 to 5 years

• 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

16. Massimiliano Bondurri: $3,000 to $5,000 in 3 to 5 years

• Massimiliano Bondurri, a capital founder and a CEО of SGMC, believes a troy ounce of gold will rise in price to $3,000 -$5,000 in the next 3-5 years. Source

17. Eric Fry: $3,000 to $4,000

• '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

18. Michael Cuggino: $4,000

• Cuggino, CEO of the Permanent Portfolio Family of Funds, a $1.9 billion mutual fund that is conservatively run and rated four stars by Morningstar, says it would “not be an unreasonable move” for gold to breach $4,000/ozt.. Source

19. Kirk Spano: $3,000 by mid-decade; $5,000 possible

1. "$3,000 mid-decade [with] upside potential to $5,000 per troy ounce." Source

20. Chris Vermuelen: $3,500 

•  "Expect to see an ultimate peak price in gold well above $3,500/ozt.." Source

21. Charles Gibson: $3,281 

• "Since 1967, the price of gold has shown an extremely strong (0.909) correlation with the total US 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

$3,000 Gold

1. Bank of America: $3,000 by end of 2021

• BoA raised its 18-month price target for gold to $3,000 a troy ounce citing the prospects of endless monetary expansion from central banks, including the Federal Reserve, to limit the economic damage from the COVID-19 pandemic. Source

2. WingCapital Investments: $3,000

• "Using the post-2008 bull market as a guideline during which gold more than doubled within the ensuing 3 years, $3,000 per troy ounce would be a reasonable long-term target in our opinion." Source

3. Barry Dawes: $3,000 within 2 to 3 years

• "I expect to see US$3,000/ozt. in gold over the next 30 months." Source

4. Brian Lundin: $3,000 by 2024

•  "I think we’ll set a new record in real terms, exceeding $3,000/ozt., at some point over the next four years or so." Source

5. Byron King: $3,000

• "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 

6/7. Ben Morris and Drew McConnell: $3,000

• "$3,000 per troy ounce isn't a long shot." Source

8. Alex Mashinsky: $3,000 by end of 2021

• Mashinsky sees gold climbing to $3,000/ozt. by the end of next year but admits that even more gains are possible depending on how bad the currency debasement gets. Source

9. Robert Kiyosaki: $3,000 within 1 year

• "I predict $3,000 per troy ounce of gold in 1 year." Source

10. Stewart Thomson: $3,000

•  “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 target!" Source

11. Leon Wilfan: $3,000 in 2021

• "If the economy contracts further and we enter a protracted recession, then gold could reach $3,000/ozt. in 2021." Source

12. Mark O'Byrne: $3,000 in next 12 months

• "Gold is quite likely to climb to $3,000/ozt. in the next 12 months." Source

13. John Ing: +$3,000

• "We expect gold to trade higher than $3,000 a troy ounce due to a lower greenback and solvency concerns." Source

14. Joe Foster: $3,400

• "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

15. SomaBull: $3,000

• "The money supply is quickly heading to levels that would support a gold price of $3,000 per troy ounce well in excess of fair value by the time this bull market is exhausted." 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.