Will gold prices hit $50,000 per ounce in the coming years? Thomas Kaplan, the chairman of Electrum, and a billionaire has predicted that the yellow metal may rise as much as ten times from its current values. In fact, Kaplan has said that he sees a dramatic increase in gold prices as inevitable rather than merely possible.“I can see gold going to 30, 40, 50,000 dollars without a problem,” Kaplan told Kitco News in an interview recently. If one were to convert $50,000 per ounce rates according to an average value of 95 per dollar, it would roughly translate into a price of around Rs 15 lakh per 10 grams.“Seeing gold go up another tenfold from here, to me is not just likely, but inevitable,” he said.Gold prices have corrected in the last few months from their historic highs after rising meteorically the whole of 2025. This led many to question whether the bull run in the precious metal is over.But several global analysts remain bullish in the long-term on gold. Recently, Robert Kiyosaki, the author Rich Dad Poor Dad Quoted Jim Rogers in a social media post to talk about gold and silver’s bull run prospects. Kiyosaki is bullish on gold and silver.Jim Rogers expects gold and silver to surge significantly over the long term, though sharp corrections can occur along the way.
Gold correction a ‘1987 moment’?
The scale of Thomas Kaplan’s forecast is significant. Gold is currently trading at around $4,600. A tenfold increase from that level would put the price at roughly $46,000 an ounce, within the range Kaplan has cited. Such a move would also mean gold repeating several times over the gains it has taken the metal two decades to achieve.Kaplan did not specify when he expects such an increase to happen. In fact, on the more immediate outlook, he said he was uncertain.“Maybe it already is, maybe it needs to test again, I don’t know,” he said of the current pullback. “It doesn’t matter, because in the long term, even in the medium term, gold and silver are going to multiply from where they are.”Kaplan views the current decline as a correction taking place within a broader bull market, and he has a particular historical episode in mind when describing it. He had earlier said that he sees the recent correction in gold prices as a ‘1987 moment’.Kaplan made gold and silver the foundation of his family’s capital after selling Leor Energy in 2007. He is chairman of the Electrum Group, NOVAGOLD and Sunshine Silver Mining and Refining, which began trading on the New York Stock Exchange on June 4.Earlier this year, when gold and silver were trading close to their peaks, Kaplan told investors during a NOVAGOLD webcast that markets could experience a steep decline. He said such a fall would present an opportunity rather than signal a fundamental problem.“We could have a 1987 moment,” he said. “That was the best buying opportunity of the entire bull market.”His reference is to Black Monday. The Dow reached 2,722.42 on August 25, 1987, before plunging to a close of 1,738.74 on October 19, a decline of roughly 36% in eight weeks. At the time, the selloff appeared catastrophic. Viewed on a chart spanning the past 45 years, however, the crash is barely noticeable.That contrast is central to Kaplan’s argument.“You can’t see it on a long-term chart,” Kaplan said. “The crash of 1987, it really did seem like the world was falling in upon itself, and yet when you look back over that chart, you can’t see it. Certainly a person of my vintage would need glasses to be able to perceive it. It’s that minute.”(Disclaimer: Recommendations and views on the stock market, or any other asset classes or personal finance management tips given by experts and analysts are their own. These opinions do not represent the views of The Times of India.)
