Gold Could Surge 2x in 5-10 Years as Fiat Doubts Grow

Gold is on a rampage, surging at a new pace amid growing economic uncertainty. The asset class has been noting a rapid surge, eyeing new price horizons as external factors continue to gnaw at the core of the world economies. With global war narratives, inflation, and the Fed stance continuing to heat up, the investor sentiment towards the fiat currencies is weakening, pushing the world to rush towards gold as the next safe-haven asset. If this scenario continues to gain momentum, then there’s no way to stop gold from defeating all leading asset classes, as per a leading economic analyst.

Also Read: Goldman Sachs: Dollar Forecast Warns Currency Could Turn Even Riskier

Also Read: Goldman Sachs: Dollar Forecast Warns Currency Could Turn Even Riskier## Gold Could Surge Massively in 5 to 10 Years

Source: mmtcpamp.comAccording to Thornsten Polleit, honorary professor of economics at the University of Bayreuth and publisher of the BOOM & BUST REPORT, gold and silver are on the brink of a massive breakout spree. Both assets have been showing an incredible price run, especially gold amid the rising worldview of it being a “perfect” safe haven asset. Polleit is of the view that gold is also surging massively, primarily as investors’ confidence in fiat continues to grow, and seeds of skepticism, which are now sprouting with full force.

The analyst was quick to note how the purchasing power of the leading currencies is rapidly falling, compelling investors to switch to gold amid such chaos.

“There is a desperate attempt to secure safe haven assets. People are becoming skeptical of the purchasing power of all fiat currencies, and we can see this in the global gold market.” Polleit later shared

“There is a desperate attempt to secure safe haven assets. People are becoming skeptical of the purchasing power of all fiat currencies, and we can see this in the global gold market.” Polleit later shared how inflation is one of the key causes pushing gold to new highs, as major currencies continue to trade below gold. Currencies such as the yen, franc, euro, Canadian dollar, and pound have been noted struggling to surge against gold as of late, per the Kitco Gold article.

“Global debt is rising everywhere, and this is driving inflation. It’s not just in the U.S. Government debt is rising in Canada, it’s rising in the UK, and it’s rising in Europe,” he said.

“Global debt is rising everywhere, and this is driving inflation. It’s not just in the U.S. Government debt is rising in Canada, it’s rising in the UK, and it’s rising in Europe,” ### Further Appreciation Of Gold On Cards

As per Polliet, gold could finally make a run for it, provided that central banks continue to fuel the gold surge by rapidly purchasing the asset. The analyst also said how he feels the gold prices have the power to double in the next five to ten years.

“If that doesn’t work, if you don’t get the long-term interest rate down, I think it’s very plausible to assume that central banks will start purchasing once again,” he said. “Once yields come down, you will see a further appreciation of the gold price. There is so much potential and momentum in gold that I expect we will see higher prices before the end of the year.”

**“If that doesn’t work, if you don’t get the long-term interest rate down, I think it’s very plausible to assume that central banks will start purchasing once again,” he said. “Once yields come down, you will see a further appreciation of the gold price. There is so much potential and momentum in gold that I expect we will see higher prices before the end of the year.”**Also Read: Gold Hits $3,401, Up 39% in a Year as Trump Installs Miran at Fed

Also Read: Gold Hits $3,401, Up 39% in a Year as Trump Installs Miran at Fed