I am only posting about extraordinary events, and a 20% in the price of gold over the last 2 months surely qualifies. On 8/25/25, it was $3,366 per ounce. Today less than 60 days later, it is $4,131 per ounce, an increase of 22%. It first hit $3,000 per ounce on about March 19, 2025.
At this rate, it should hit $5000 per ounce by the end of the year, and then $6000 by spring.
Why is it rising? This is partly due to US dollar weakness, partly due to central banks buying gold, partly just to momentum, and partly because it is similar to bitcoin, with a supply constraint.
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Jamie Dimon says gold can easily go to $5,000 or $10,000.
Dimon admitted that gold “could easily go to $5,000, $10,000 in environments like this. This is one of the few times in my life it’s semi-rational to have some in your portfolio.” Gold, which traded below $2,000 just two years ago, has outpaced gains in equities so far this year, this decade, and this century, reflecting investor demand for safe-haven assets amid inflation concerns and geopolitical unrest, after ignoring precisely the same arguments presented by "tinfoil hat" conspiracy blows such as this one. It continued its torrid advance on Tuesday, climbing to a record $4,184 an ounce, extending its gain this year to almost 60%.
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