Thomas Kaplan forecasts gold prices could reach $50,000

Thomas Kaplan, chairman and CIO of The Electrum Group, has forecasted that gold prices could eventually reach $50,000 per ounce. In an interview with Kitco News, Kaplan described a tenfold increase from current levels as ‘not just likely, but inevitable.’

While Kaplan did not provide a specific timeline for this rally, he noted that the market is currently in a ‘very, very long wave’ for both gold and silver, predicting more highs for both metals. He declined to speculate on near-term market corrections, stating that his investment strategy focuses on long-term patience and holding assets as long as they remain the best in their class.

Kaplan, whose firm manages approximately $2.5 billion in assets, pivoted to precious metals in 2007 after selling his family’s energy company. He noted that he viewed gold and silver as essential tools for wealth protection during that period.