Five years ago, no one could have predicted that there would be a global pandemic in 2020 that would skyrocket the value of gold to an all-time high of over $2,000 per ounce. Now, many investors are seeing the value of diversifying their portfolios with gold, and many have dipped their toes into precious metals investments during this tumultuous time.
Get in on gold today.
One question that arises most often among any savvy investor is: “What will the price of gold be in the next 5 years?” Informed investors want to know what the return on their gold investment will be in the future. A very valid question!
Today, we’re going to look at some common predictions about the price of gold over the next five years, so you can make a smart investment.
Even though the price of gold is at an all-time high, many people think that the market will maintain its bullishness and that the price of gold will only go up from here. Some industry experts are predicting that gold could be worth anywhere from $3,000–$5,000 per ounce in the next 5–10 years!
For those who think gold prices will increase, they cite that people are now recognizing the value of gold, which will increase the demand, therefore increasing the value. Others cite unstable economies, due in part to the coronavirus, as the reason for this potential increase, as the world will likely take years to overcome this recession.
Other industry experts think the price of gold has peaked during this economic crisis, and that as economies slowly recover over the next few years, the price of gold will decrease and be worth much less per ounce than it is today.
If this is the case, investors who buy gold now would be buying at a high, which most advisors would tell you is not the smartest investment move. However, gold is not a short-term investment, so even if the price is lower in the next 5 years, it might very well likely increase in 10 years.
As you’ve read, there are those who are bullish on gold and think its value will only continue to rise. Then there are others who are bearish on gold, predicting its value is at an all-time high and eventually decreases over the next five years.
It’s hard to imagine the price of gold being higher than it is now, at its all-time high of over $2,000 per ounce. But, of course, it very well could be, which would make this a great time to invest in the precious metal.
Before you make any decisions, talk to one of the gold experts at Nationwide Coins to learn more about your options!
Get in on gold today.