James Puplava, president of Financial Sense Wealth Management, predicts that gold and silver will trade at more than $10,000 and $300 respectively by the end of the decade. Puplava has a history of making relatively accurate gold predictions, correctly forecasting a decade-long bull run in precious metals at the turn of the century when gold was trading at under $300.
While Puplava predicted the precious metal would end this run at all-time highs of more than $1,000, gold prices nearly reached $2,000. With the Financial Sense Wealth Management president predicting that gold will trade at higher then $10,000, the market would be wise to pay attention.
Gold has traditionally acted as a store of value during turbulent times because it does not depreciate as do fiat currencies and other assets. With the world facing major crisis after major crisis in recent years, starting with the coronavirus pandemic and the Russia-Ukraine war, which significantly impacted global industries, gold should have been in extremely high demand.
However, consistent interest rate hikes by the U.S. Federal Reserve have reduced investor demand for gold and kept prices from spiking. While a historic gold-buying spree by central banks bolstered gold prices in 2022, the precious metal has been consistently pressured by high-interest rates.
A once-in-a-generation demographic change, characterized by the mass retirement of the baby boomer generation, has also impacted gold prices. The world experienced a period of peak production that lasted from the early 1980s to around 2020, around the same period when boomers entered the workforce to when they started retiring in mass.
Income-generating populations in many developed nations are getting older amid lower birth rates and higher life expectancies, meaning nations that saw explosive growth due to their massive human resources, such as China, are currently experiencing a potentially catastrophic demographic change.
Many economic experts now predict that the global economy will go through a depression from 2030 to 2036. Coincidentally, all baby boomers will be past 65 years by 2030 and will most likely be receiving Medicare and Social Security benefits.
In the meantime, experts predict that governments will continue printing money to deal with a variety of issues, including expanding financial deficits, higher inflation, commodity shortages, rising political tension and anemic growth.
The dollar will likely lose out in favor of a “better economic system” past the 2030s, FX Empire’s AG Thorson says.
An investment portfolio that allocates sufficient funds to gold stocks can help investors to weather incoming financial storms and stabilize their portfolios. Doing due diligence on numerous companies such as Freeport-McMoRan Inc. (NYSE: FCX) before selecting specific gold stocks to invest in can also increase the chances of benefiting from any bull run that the industry experiences.
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