Why the price of gold could surge 150% by the end of the decade, according to a market vet

Core Viewpoint - Gold is experiencing a significant rally and is projected to continue its upward trend, potentially reaching $10,000 an ounce by 2030, representing a 151% increase over the next five years [1][2]. Economic Factors - Economic and geopolitical uncertainties have driven investors towards safe-haven assets like gold, contributing to its momentum [2]. - Factors such as tariffs imposed by former President Donald Trump, pressure on the Federal Reserve to lower interest rates, and issues in China's housing market have also increased gold demand [3]. Central Bank Activity - Central banks are increasing their gold reserves, which supports the bullish outlook for gold prices. This trend is referred to as the "Gold Put" [3]. - In August, central banks globally added a net 15 metric tons of gold to their reserves, with Kazakhstan, Bulgaria, and El Salvador being the largest buyers [9][10]. Market Performance - Gold has risen 48% year-to-date, positioning it for its best performance since the 1970s, as both individual and institutional investors seek refuge amid economic turmoil and inflation concerns [10]. - Yardeni's analysis indicates that gold is on track to reach a year-end price target of $4,000 an ounce for 2025, suggesting strong ongoing momentum [8].