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Fortune: Gold Could Soar 80% to $6,000 if There’s Even a Minuscule Shift Away from US Assets, Analysts Say

Article by Jason Ma in Fortune

The price of gold has been on a tear in recent years and could reach astronomical heights by the end of the decade if foreign investors shift away slightly from the U.S., according to analysts at JPMorgan.

In a note, they laid out a scenario where gold would hit $6,000 per ounce by 2029, an 80% jump from the current price of about $3,300.

If just 0.5% of foreign-held U.S. assets are reallocated to gold, that would result in 18% annual returns and eventually send prices to $6,000, JPMorgan estimated.

That’s because the supply of gold isn’t expanding by much, meaning that a relatively minuscule boost in demand can create a big price swing.

“While hypothetical, this scenario illustrates why we remain structurally bullish gold and think prices have further to run,” analysts wrote.

Gold has jumped more than 20% so far this year, and ……

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Although the information in this commentary has been obtained from sources believed to be reliable, The Gold IRA Company does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice. The Gold IRA Company will not be liable for any errors or omissions in this information nor for the availability of this information. All content provided on this blog is for informational purposes only and should not be used to make buy or sell decisions for any type of precious metals.