Gold Prices May Hit $50,000 Per Ounce: Billionaire Investor Predicts

Thomas Kaplan, the billionaire chairman of Electrum and other companies, believes gold prices may surge as high as $50,000 per ounce in the coming years. This would be a tenfold increase from the current price of around $4,600.

Kaplan sees this dramatic rise as inevitable rather than possible. He told Kitco News that he can see gold going to '30, 40, 50,000 dollars without a problem.'

If we convert these prices according to an average value of 95 per dollar, it would roughly translate into a price of around Rs 15 lakh per 10 grams.