Oliver suggests that gold could even reach USD 12,000 per ounce.

“Over history, markets have forced central banks to keep gold reserves at between one-third and one-half of their balance sheets, implying a price between USD 8,395 and USD 12,595 per ounce,” he said.

This is no short-term forecast or a time-specific target. It is a macroeconomic reflection rooted in clear historical parallels, i.e. the share gold occupied in reserves during periods of stricter monetary discipline.

At IBIS InGold, the key point is not the headline figure of USD 12,000. What matters is the debate about a paradigm shift.

In recent years, we have observed:

• rising sovereign debt;
• systematic gold purchases by central banks;
• diversification of reserves away from the US dollar.

Our Sales Director, Filip Horáček, concurs in particular with the view that gold’s role is gradually evolving from a “crisis hedge” to a strategic reserve component in an environment of heightened macroeconomic uncertainty.

“Gold no longer serves merely as a portfolio add-on. The very principles of diversification are shifting. Rather than acting simply as a guide through turbulent times, gold is becoming a stable core portfolio holding.”

This does not mean the market must – or will – reach extreme levels. It does mean that the proportion of gold in reserves and portfolios is once again under scrutiny. From a long-term strategic perspective, that is more significant than any headline number. Every investor should consider holding physical gold as part of their personal financial foundation.