Kaplan Sees Gold Soaring to $50,000 Amid Geopolitical Risks

Billionaire investor Thomas Kaplan has made a bold prediction for gold prices, stating that it could eventually climb as high as $30,000 to $50,000 per ounce. This forecast comes despite the recent correction in bullion prices, which Kaplan views as only a temporary setback within a much larger long-term bull market.

Kaplan compared the current pullback to the 1987 stock market crash, suggesting that it could ultimately prove to be a brief interruption in gold's upward trajectory. He also warned investors about geopolitical risks in the global mining industry, arguing that governments could seize profitable mines during periods of economic or market stress.

The Electrum Group Chairman pointed out that he has made gold and silver the core of his family's capital after selling Leor Energy in 2007. He remains bullish on precious metals, believing that structural demand for gold will remain strong. Kaplan's predictions come as the international price of gold briefly crossed $4,690 per ounce, rising from below $4,440 a week earlier.