Jan Nieuwenhuijs, a gold market researcher, predicted that the price of gold might reach $8,000 during the next decade, as banks shift their preferences due to inflation and war.
Analyst Predicts Gold Prices Might Exceed $8,000 in the Next Decade as Central Banks Lose Confidence in Foreign Currency
Jan Nieuwenhuijs, a gold market analyst, has predicted that gold might exceed prices of $8,000 during the next decade, as the current Ukraine-Russia war, and the worldwide battle against inflation, shift the preference of central banks for foreign currencies to gold. The proposed long-term price model shows that each troy ounce of the metal might touch the $10,000 mark.
As part of his analysis, which considers the historical percentage of gold held by central banks as a key metric, NieuwenhuijsCentral banks in aggregate have an unusual faith in foreign exchange, as gold’s percentage of total reserves accounted for 16% in 2022, against a historical average of 59%. These central banks, however, are starting to lose confidence in the currencies issued by their peers.
According to his model, if central banks stockpile 51% of their reserves in gold, the price of gold would reach $10,000 per troy ounce. However, Nieuwenhuijs clarifies that while central banks will be the ones to spearhead this pivot to gold, private banks, and other organizations will also follow the trend.Central banks have been stockpiling gold in recent times.
Other personalities have also alerted about the rise of gold and other scarce assets, such as bitcoin. Robert Kiyosaki, author of the best-selling book Rich Dad, Poor Dad, predicted in February that goldTags in this story
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