Gold at $5,000 by 2030? One Fund Manager Thinks It’s Conservative

Gold prices might be just getting started. Despite a recent dip to $3,200 an ounce, fund manager Jim Luke says $5,000 gold by decade’s end now feels like a “frankly conservative” forecast.

Why?

Explosive demand from China, central banks in emerging markets, and steady buying from the Middle East are powering the current run—while Western investors haven’t even joined the party yet.

Luke sees a likely scenario where global demand converges, pushing gold sharply higher. Add in rising debt, geopolitical tension, and undervalued mining stocks, and gold’s bull run could still be in its early stages.