Gold has long been considered a stable means of storing wealth, and the gold price often scores its biggest gains during turbulent times as market participants rush into this well-known safe haven investment.
Unarguably, the 21st century has so far been heavily marked by substantial episodes of economic and sociopolitical turbulence. These uncertain times have pushed the gold price to record highs as investors seek the perceived security of the precious metal. And each time the gold price rises, there are bound to be calls for even higher record-breaking gold prices.
Gold market gurus from Rob McEwen to Frank Holmes to David Smith have shared eye-popping predictions on the gold price that would make any market participant salivate — gold bug or not.
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While some have posited that gold may break US$3,000 per ounce and carry on as high as US$4,000 or US$5,000, there are those with hopes that US$8,000 or even US$10,000 gold could become a reality.
These impressive price predictions have investors asking, “What was the highest price for gold?” The answer to that question is revealed below. And by looking at how the gold price has moved historically, it’s possible to understand what that means for the yellow metal in the future.
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