Economist Jim Rickards predicts that gold prices could surpass $27,000, stressing that this forecast is the outcome of thorough analysis rather than an attempt to attract attention or shock. This marks a notable increase from his previous estimate of $15,000 by 2026.

In a recent opinion piece on the Daily Reckoning, Rickards, known for his expertise in international economics and finance, including best-selling books such as “Currency Wars” and “The Death of Money,” shared his updated forecast for gold prices. He stated, “My latest forecast is that gold may actually exceed $27,000. I don’t say that to get attention or to shock people. It’s not a guess; it’s the result of rigorous analysis.”

Rickards' analysis delves into the non-deflationary price of gold within a potential new gold standard context. He explores scenarios where central banks might resort to gold to restore global monetary stability, especially if confidence in fiat currencies collapses due to various factors like excessive money creation or geopolitical tensions. Taking into account historical examples and monetary economics, Rickards elaborates on the equilibrium between gold and dollars and proposes a potential gold price of over $25,000 per ounce under such circumstances.

As of May 17, the current price of gold stands at $2,427.40 per ounce. Do you believe gold prices will indeed exceed $27,000 as predicted by economist Jim Rickards? Share your thoughts in the comments section below.