Gold Could Reach $45,000 with Inevitable Surge, Says Thomas Kaplan
Thomas Kaplan, chairman of Electrum Group and NovaGold Resources, believes gold prices will surge tenfold to $30,000-$50,000 per ounce. In an interview with Kitco News on August 20, Kaplan stated that this increase is inevitable, likening it to the 1987 stock market crash.
According to Kaplan, the recent pullback in gold prices was a correction within a longer bull market, not the start of a bear market. He noted that even though the current situation seems dire, it's essential to look at the bigger picture and historical parallels.
Kaplan's long-term outlook for gold is grounded in what he calls a 'very long wave' driven by global monetary forces. His track record lends weight to his contrarian timing, as he sold Leor Energy to EnCana in 2007 before the financial crisis.
Gold currently trades near $4,515 an ounce, and Kaplan's forecast would place the precious metal around $45,000 if it were to reach his predicted range. J.P. Morgan Global Research forecasts gold to average $6,000 per ounce by the final quarter of 2026 and rise toward $6,300 by the end of 2027.