When will the price of gold climb above USD 10,000?
19. 11. 2025Ing. Petr Kohoutek, MBA, Senior Analyst and Key Account Manager IBIS InGold
The gold price surged as high as USD 4,400 per ounce, and its subsequent decline can be viewed as a healthy correction, reflecting not only profit-taking by short-term and speculative investors, but also several positive shifts in the geopolitical and macroeconomic landscape.
Where might gold be heading next?
Historical data shows that gold price moves in cycles, and the current bull cycle appears far from over. Several long-term drivers continue to support the gold price: geopolitical and macroeconomic tensions, persistent debt accumulation, the risk of elevated inflation over a prolonged period, and ongoing de-dollarisation. Investors are also acutely aware of heightened market volatility and the need for sound diversification. Gold, a traditional safe haven, plays a crucial role in that strategy.
Gold price trends and growth periods (bull markets)
It is often said that history does not repeat itself, but it does “rhyme”. And once the growth cycles of the oil crisis and the subprime crisis are “rhymed” with the current bull cycle, the picture that emerges is encouraging.
Gold price increases and the duration of growth periods (in months)
The results are similarly encouraging when we project forwards gold’s average annual growth rate since 1971 (8.9% p.a.) and since 2001 (11.5% p.a.).
Gold price growth projections
In all scenarios, projections have the gold price approaching USD 7,000 per ounce by the end of the decade.
Our own detailed analyses and scenarios point in the same direction. Gold is highly likely to break through USD 10,000 per ounce within the next 10 years, translating into a 145% increase on today’s price of USD 4,072.5. To give a sense of scale, a one-kilogram gold bar in our iiplanGold® savings scheme would be worth more than EUR 284,000, up from roughly EUR 116,000 today.
