Kaplan Sees Gold Hitting $50,000 Amid Geopolitical Risks
Billionaire investor Thomas Kaplan is predicting that gold will hit $50,000. He described the current pullback as a '1987 moment', a sharp decline that could ultimately prove to be only a brief interruption in gold's broader upward trajectory.
Kaplan warned investors about geopolitical risks in the global mining industry, arguing that governments could seize profitable mines during periods of economic or market stress. However, despite such risks, Kaplan remains bullish on precious metals and believes structural demand for gold will remain strong.
The current surge in gold prices has been driven by a weakening US dollar, following the US Treasury Department's announcement on bond buybacks. The international price of gold briefly crossed $4,690 per ounce, rising from below $4,440 a week earlier.